Van Cleef Asset Management Inc Sells 886 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Van Cleef Asset Management Inc reduced its stake in Palantir Technologies Inc. (NYSE:PLTR) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 694,604 shares of the company’s stock after selling 886 shares during the quarter. Palantir Technologies comprises about 1.7% of Van Cleef Asset Management Inc’s portfolio, making the stock its 15th largest holding. Van Cleef Asset Management Inc’s holdings in Palantir Technologies were worth $11,926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC raised its position in Palantir Technologies by 12.4% during the 3rd quarter. CWM LLC now owns 41,913 shares of the company’s stock worth $671,000 after buying an additional 4,638 shares during the last quarter. DAVENPORT & Co LLC raised its position in Palantir Technologies by 8.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 55,852 shares of the company’s stock worth $894,000 after buying an additional 4,300 shares during the last quarter. Founders Financial Securities LLC raised its position in Palantir Technologies by 4.7% during the 3rd quarter. Founders Financial Securities LLC now owns 15,369 shares of the company’s stock worth $246,000 after buying an additional 690 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Palantir Technologies during the 3rd quarter worth approximately $246,000. Finally, Exchange Traded Concepts LLC raised its position in Palantir Technologies by 6.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 111,810 shares of the company’s stock worth $1,789,000 after buying an additional 6,871 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Thursday, March 28th. 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 research note on Tuesday, February 6th. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $0.12 on Thursday, reaching $21.71. 26,087,662 shares of the company were exchanged, compared to its average volume of 63,084,059. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The company has a market cap of $48.04 billion, a P/E ratio of 241.25, a price-to-earnings-growth ratio of 5.31 and a beta of 2.78. The stock’s 50 day moving average price is $23.57 and its 200-day moving average price is $20.00.

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 company had revenue of $608.35 million for 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%. On average, research analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares in the company, valued at $4,247,445.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 over the last three months. 13.96% of the stock is owned by corporate insiders.

Palantir Technologies Company 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.