Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Cut by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 20.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,862 shares of the company’s stock after selling 1,972 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Palantir Technologies were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Northern Trust Corp boosted its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $1,360,191,000. FMR LLC boosted its position in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock valued at $250,504,866 over the last three months. 9.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLTR has been the subject of several research reports. UBS Group raised their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $83.95.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $129.52 on Monday. The company has a 50 day simple moving average of $98.72 and a 200-day simple moving average of $85.43. The firm has a market capitalization of $303.77 billion, a price-to-earnings ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.63 and a 52-week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm’s revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.