Adalta Capital Management LLC Reduces Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Adalta Capital Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the company’s stock after selling 500 shares during the quarter. Adalta Capital Management LLC’s holdings in Palantir Technologies were worth $159,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $28,000. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC acquired a new position in Palantir Technologies during the fourth quarter worth $31,000. Finally, R Squared Ltd acquired a new position in Palantir Technologies during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Jefferies Financial Group boosted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. DA Davidson lifted their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $83.95.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction 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 directly owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,964,290 shares of company stock valued at $250,504,866. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Down 0.6%

Shares of NASDAQ PLTR opened at $125.59 on Wednesday. The business has a 50-day moving average price of $100.49 and a 200 day moving average price of $86.30. The stock has a market cap of $294.55 billion, a PE ratio of 661.03, 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 released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 EPS. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share 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.