Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Adalta Capital Management LLC

Adalta Capital Management LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,100 shares of the company’s stock after selling 500 shares during the quarter. Adalta Capital Management LLC’s holdings in Palantir Technologies were worth $159,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PLTR. Continuum Advisory LLC increased its position in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after acquiring an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA grew its stake in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC raised its holdings in Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Westover Capital Advisors LLC grew its holdings in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after acquiring an additional 130 shares during the period. Finally, Tritonpoint Wealth LLC grew its stake in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now directly owns 184,617 shares in the company, valued at approximately $15,993,370.71. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,964,290 shares of company stock worth $250,504,866 in the last 90 days. Company insiders own 9.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLTR. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Loop Capital upped their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target for the company. Finally, Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Stock Down 0.6%

Shares of NASDAQ:PLTR opened at $125.59 on Wednesday. Palantir Technologies Inc. has a 12-month low of $20.63 and a 12-month high of $133.49. The business has a 50 day moving average of $100.49 and a 200-day moving average of $86.30. The stock has a market cap of $294.55 billion, a PE ratio of 661.03, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Profile

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.