Sigma Planning Corp Trims Position in Palantir Technologies Inc. (NYSE:PLTR)

Sigma Planning Corp decreased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 49.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,645 shares of the company’s stock after selling 25,490 shares during the period. Sigma Planning Corp’s holdings in Palantir Technologies were worth $440,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Palantir Technologies by 13.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 151,224 shares of the company’s stock worth $2,597,000 after buying an additional 17,485 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $312,000. Signaturefd LLC boosted its holdings in Palantir Technologies by 7.9% during the fourth quarter. Signaturefd LLC now owns 36,863 shares of the company’s stock worth $633,000 after buying an additional 2,710 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Palantir Technologies by 44.5% during the fourth quarter. Lindbrook Capital LLC now owns 6,902 shares of the company’s stock worth $119,000 after buying an additional 2,127 shares in the last quarter. Finally, abrdn plc boosted its holdings in Palantir Technologies by 104.0% during the fourth quarter. abrdn plc now owns 659,660 shares of the company’s stock worth $11,326,000 after buying an additional 336,360 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 0.6 %

Shares of NYSE PLTR opened at $21.71 on Friday. The firm has a 50-day simple moving average of $23.49 and a 200-day simple moving average of $20.01. The stock has a market capitalization of $48.04 billion, a price-to-earnings ratio of 241.25, a price-to-earnings-growth ratio of 5.29 and a beta of 2.78. Palantir Technologies Inc. has a 52 week low of $7.28 and a 52 week high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued 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). The business had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PLTR shares. 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. HSBC cut 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. Mizuho upped their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Finally, Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.35.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. Over the last quarter, insiders 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 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.