CapWealth Advisors LLC Trims Stake in Palantir Technologies Inc. (NYSE:PLTR)

CapWealth Advisors LLC reduced its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 526,396 shares of the company’s stock after selling 10,462 shares during the period. CapWealth Advisors LLC’s holdings in Palantir Technologies were worth $9,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. AlphaCrest Capital Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter worth $206,000. D.A. Davidson & CO. increased its stake in shares of Palantir Technologies by 18.6% in the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after purchasing an additional 2,286 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter worth $1,475,000. Cibc World Market Inc. grew its stake in Palantir Technologies by 38.3% during the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after acquiring an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after acquiring an additional 482,171 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PLTR. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Finally, Bank of America boosted their price target 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. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $0.03 during midday trading on Thursday, reaching $21.34. The company’s stock had a trading volume of 21,281,886 shares, compared to its average volume of 64,863,340. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50. The stock’s 50 day simple moving average is $23.91 and its 200 day simple moving average is $19.81. The firm has a market capitalization of $47.22 billion, a PE ratio of 236.47, a P/E/G ratio of 5.37 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $603.48 million. Equities analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the transaction, the director now owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 8,521 shares of Palantir Technologies stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the transaction, the insider now directly owns 703,485 shares in the company, valued at $16,370,095.95. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 in the last 90 days. 13.96% of the stock is currently owned by insiders.

Palantir Technologies Company Profile

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.