SlateStone Wealth LLC Decreases Position in Palantir Technologies Inc. (NYSE:PLTR)

SlateStone Wealth LLC trimmed its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 36.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,536 shares of the company’s stock after selling 8,500 shares during the quarter. SlateStone Wealth LLC’s holdings in Palantir Technologies were worth $250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Fiduciary Alliance LLC increased its position in shares of Palantir Technologies by 1.0% during the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after buying an additional 618 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Palantir Technologies by 2.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock valued at $539,000 after acquiring an additional 675 shares during the last quarter. Larson Financial Group LLC raised its stake in Palantir Technologies by 15.3% during the fourth quarter. Larson Financial Group LLC now owns 5,142 shares of the company’s stock worth $88,000 after purchasing an additional 681 shares during the period. Founders Financial Securities LLC lifted its holdings in shares of Palantir Technologies by 4.7% during the third quarter. Founders Financial Securities LLC now owns 15,369 shares of the company’s stock valued at $246,000 after purchasing an additional 690 shares during the last quarter. Finally, Truvestments Capital LLC increased its stake in shares of Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after buying an additional 700 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America increased 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. Mizuho boosted their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Thursday, March 28th. Finally, Raymond James raised 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. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $18.35.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the sale, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $0.38 during trading hours on Wednesday, hitting $22.02. The company had a trading volume of 9,731,021 shares, compared to its average volume of 63,221,445. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50. The stock has a market capitalization of $48.72 billion, a PE ratio of 240.42, a price-to-earnings-growth ratio of 5.14 and a beta of 2.78. The company’s fifty day moving average is $23.64 and its 200 day moving average is $19.99.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $608.35 million during 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%. Equities analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

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.