Fiduciary Alliance LLC Cuts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Fiduciary Alliance LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,685 shares of the company’s stock after selling 6,791 shares during the period. Palantir Technologies accounts for about 1.3% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 16th biggest holding. Fiduciary Alliance LLC’s holdings in Palantir Technologies were worth $12,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PLTR. Roxbury Financial LLC purchased a new position in Palantir Technologies during the 4th quarter worth $27,000. HighMark Wealth Management LLC boosted its holdings in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $31,000. R Squared Ltd acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $33,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $34,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $126.63 on Monday. The company has a market capitalization of $298.84 billion, a PE ratio of 666.51, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company’s fifty day moving average price is $105.90 and its 200 day moving average price is $90.28. Palantir Technologies Inc. has a 1 year low of $21.01 and a 1 year high of $133.49.

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

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research analyst reports. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Mizuho boosted 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. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price for the company. Finally, Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $83.95.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. Company insiders own 9.23% of the company’s stock.

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.