TrinityPoint Wealth LLC Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

TrinityPoint Wealth LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,862 shares of the company's stock after selling 1,972 shares during the quarter. TrinityPoint Wealth LLC's holdings in Palantir Technologies were worth $595,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PLTR. Mather Group LLC. grew its stake in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after buying an additional 448 shares during the period. Diversify Wealth Management LLC purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $3,233,000. Grange Capital LLC purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $5,829,000. Finally, Lake Street Private Wealth LLC purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $527,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Mizuho boosted their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Finally, Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $129.52 on Monday. The stock has a market capitalization of $303.77 billion, a price-to-earnings ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 1-year low of $20.63 and a 1-year high of $133.49. The company's fifty day moving average is $98.72 and its two-hundred day moving average is $85.43.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek purchased 10,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was acquired at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the completion of the transaction, the insider now owns 58,006 shares of the company's stock, valued at approximately $6,736,816.84. The trade was a 20.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $64,958,509.98. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 9.23% of the company's stock.

Palantir Technologies Company 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.

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