Blume Capital Management Inc. Lowers Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Blume Capital Management Inc. trimmed its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,890 shares of the company’s stock after selling 900 shares during the quarter. Blume Capital Management Inc.’s holdings in Palantir Technologies were worth $84,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after purchasing an additional 18,756,392 shares in the last quarter. Morgan Stanley increased its stake in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Palantir Technologies by 8.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after buying an additional 955,992 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after buying an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLTR. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday. DA Davidson increased their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Royal Bank of Canada increased their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday. Finally, Bank of America boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.65.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR remained flat at $21.56 during mid-day trading on Thursday. The company had a trading volume of 26,915,640 shares, compared to its average volume of 63,238,125. The firm has a market cap of $47.71 billion, a P/E ratio of 237.47, a P/E/G ratio of 5.72 and a beta of 2.76. The business has a 50-day moving average of $23.28 and a 200 day moving average of $20.36. Palantir Technologies Inc. has a 12 month low of $9.02 and a 12 month high of $27.50.

Palantir Technologies (NYSE:PLTR) last posted 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 firm had revenue of $608.35 million for the quarter, compared to the consensus estimate 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 anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The disclosure for this sale can be found here. Insiders sold 7,206,273 shares of company stock worth $178,543,602 over the last 90 days. 13.96% of the stock is owned by 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.