Venturi Wealth Management LLC Has $986,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Venturi Wealth Management LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 43.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 11,679 shares of the company’s stock after selling 8,987 shares during the quarter. Venturi Wealth Management LLC’s holdings in Palantir Technologies were worth $986,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp grew its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter worth about $1,360,191,000. FMR LLC grew its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. Finally, Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Mizuho raised shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. UBS Group reissued a “positive” rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of 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, Citigroup raised their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $91.37.

Palantir Technologies Trading Up 3.7%

PLTR stock opened at $154.63 on Thursday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68. The stock has a market capitalization of $364.91 billion, a price-to-earnings ratio of 672.30, a PEG ratio of 12.73 and a beta of 2.59. The firm’s 50-day moving average price is $135.91 and its two-hundred day moving average price is $107.70.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 33,335 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the completion of the transaction, the insider directly owned 363,755 shares of the company’s stock, valued at approximately $54,563,250. This trade represents a 8.39% 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, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider owned 702,786 shares of the company’s stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 in the last quarter. Insiders own 9.23% 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.