Cyndeo Wealth Partners LLC Sells 1,183 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Cyndeo Wealth Partners LLC cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 169,221 shares of the company’s stock after selling 1,183 shares during the quarter. Palantir Technologies comprises 0.9% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 29th biggest holding. Cyndeo Wealth Partners LLC’s holdings in Palantir Technologies were worth $12,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its position in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PLTR shares. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, UBS Group started coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $78.98 on Friday. The business has a fifty day simple moving average of $71.96 and a 200 day simple moving average of $48.89. The company has a market cap of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the sale, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.