Wellington Shields & Co. LLC Has $172,000 Stake in Palantir Technologies Inc. (NYSE:PLTR)

Wellington Shields & Co. LLC cut its stake in Palantir Technologies Inc. (NYSE:PLTR) by 26.9% in the second quarter, Holdings Channel.com reports. The firm owned 6,789 shares of the company’s stock after selling 2,500 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Palantir Technologies were worth $172,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. First United Bank & Trust bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $26,000. West Paces Advisors Inc. raised its holdings in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the completion of the transaction, the director now owns 32,843 shares in the company, valued at approximately $853,918. The disclosure for this sale can be found here. Over the last three months, insiders have sold 698,649 shares of company stock worth $21,453,996. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 0.4 %

Shares of PLTR stock opened at $34.75 on Wednesday. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $35.20. The company has a market capitalization of $77.38 billion, a PE ratio of 289.58, a price-to-earnings-growth ratio of 5.35 and a beta of 2.72. The firm has a 50 day moving average price of $29.16 and a two-hundred day moving average price of $25.27.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on PLTR. Monness Crespi & Hardt lowered their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group upped their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. DA Davidson upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.79.

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.