Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Altus Wealth Management LLC

Altus Wealth Management LLC decreased its position in Palantir Technologies Inc. (NYSE:PLTR) by 14.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,932 shares of the company’s stock after selling 1,879 shares during the quarter. Altus Wealth Management LLC’s holdings in Palantir Technologies were worth $252,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $271,000. Mariner LLC boosted its holdings in shares of Palantir Technologies by 28.2% in the 3rd quarter. Mariner LLC now owns 252,715 shares of the company’s stock valued at $4,043,000 after buying an additional 55,626 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Palantir Technologies by 15.9% in the 3rd quarter. Stifel Financial Corp now owns 903,299 shares of the company’s stock valued at $14,453,000 after buying an additional 124,169 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $83,000. Finally, Northern Trust Corp boosted its holdings in shares of Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after buying an additional 601,012 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 2,398 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the sale, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the sale, the insider now directly owns 639,696 shares in the company, valued at $13,625,524.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,377,153 shares of company stock valued at $240,054,945. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday, May 7th. Citigroup upped their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Finally, HSBC upped their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.25.

Palantir Technologies Trading Down 1.9 %

Shares of PLTR traded down $0.46 during trading hours on Wednesday, reaching $24.10. The company had a trading volume of 24,270,897 shares, compared to its average volume of 57,095,813. The firm has a 50 day simple moving average of $22.39 and a 200-day simple moving average of $21.39. The company has a market capitalization of $53.66 billion, a price-to-earnings ratio of 203.52, a PEG ratio of 5.67 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Sell-side 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.