Wealthspire Advisors LLC Cuts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Wealthspire Advisors LLC lessened its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,458 shares of the company’s stock after selling 22,870 shares during the quarter. Wealthspire Advisors LLC’s holdings in Palantir Technologies were worth $1,948,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PLTR. Fiduciary Alliance LLC raised its position in shares of Palantir Technologies by 1.0% in the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after purchasing an additional 618 shares in the last quarter. Golden State Equity Partners boosted its stake in Palantir Technologies by 4.6% during the 4th quarter. Golden State Equity Partners now owns 14,435 shares of the company’s stock valued at $248,000 after acquiring an additional 640 shares during the last quarter. Capital Investment Counsel Inc grew its holdings in Palantir Technologies by 0.5% during the 4th quarter. Capital Investment Counsel Inc now owns 120,727 shares of the company’s stock worth $2,073,000 after acquiring an additional 650 shares in the last quarter. LCM Capital Management Inc increased its position in shares of Palantir Technologies by 1.9% in the 4th quarter. LCM Capital Management Inc now owns 34,080 shares of the company’s stock worth $585,000 after purchasing an additional 650 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in shares of Palantir Technologies by 2.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock valued at $539,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLTR. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday. Royal Bank of Canada raised their price objective on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday. Raymond James lifted their price objective on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.65.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,206,273 shares of company stock valued at $178,543,602. 13.96% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR traded down $0.42 during mid-day trading on Thursday, reaching $21.14. 53,926,558 shares of the company’s stock traded hands, compared to its average volume of 63,561,500. The business’s 50-day moving average price is $23.28 and its 200-day moving average price is $20.36. The stock has a market capitalization of $46.78 billion, a P/E ratio of 237.47, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies Inc. has a 12 month low of $9.02 and a 12 month high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.