Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC decreased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,576 shares of the company’s stock after selling 15,164 shares during the period. Palantir Technologies makes up 0.9% of Canvas Wealth Advisors LLC’s portfolio, making the stock its 27th biggest position. Canvas Wealth Advisors LLC’s holdings in Palantir Technologies were worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares in the last quarter. BlackRock Inc. lifted its position in shares of Palantir Technologies by 4.5% during the 2nd quarter. BlackRock Inc. now owns 103,052,030 shares of the company’s stock valued at $1,579,788,000 after acquiring an additional 4,420,419 shares during the last quarter. State Street Corp boosted its stake in shares of Palantir Technologies by 0.9% during the 2nd quarter. State Street Corp now owns 35,816,153 shares of the company’s stock worth $549,062,000 after acquiring an additional 312,531 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 23,712,480 shares of the company’s stock worth $200,086,000 after acquiring an additional 747,652 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

PLTR stock traded up $0.37 on Tuesday, reaching $24.88. 43,481,903 shares of the company were exchanged, compared to its average volume of 72,433,250. The firm has a market capitalization of $55.05 billion, a PE ratio of 275.14, a PEG ratio of 5.93 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50. The stock’s fifty day moving average price is $22.07 and its 200 day moving average price is $18.92.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLTR. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Wednesday, February 14th. Raymond James lifted their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, Bank of America upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.21.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the transaction, the director now directly owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total transaction of $64,440.00. Following the sale, the director now owns 200,783 shares of the company’s stock, valued at approximately $3,234,614.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the sale, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The disclosure for this sale can be found here. Insiders sold a total of 7,455,273 shares of company stock worth $184,293,942 over the last quarter. Company insiders own 13.96% of the company’s stock.

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.