Cannell & Co. Sells 10,000 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Cannell & Co. lessened its position in Palantir Technologies Inc. (NYSE:PLTR) by 21.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,812 shares of the company’s stock after selling 10,000 shares during the quarter. Cannell & Co.’s holdings in Palantir Technologies were worth $615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fiduciary Alliance LLC grew its position in Palantir Technologies by 1.0% in the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 shares during the last quarter. Golden State Equity Partners grew its position in Palantir Technologies by 4.6% in the 4th quarter. Golden State Equity Partners now owns 14,435 shares of the company’s stock worth $248,000 after purchasing an additional 640 shares during the last quarter. Capital Investment Counsel Inc grew its position in Palantir Technologies by 0.5% in the 4th quarter. Capital Investment Counsel Inc now owns 120,727 shares of the company’s stock worth $2,073,000 after purchasing an additional 650 shares during the last quarter. LCM Capital Management Inc grew its position in Palantir Technologies by 1.9% in the 4th quarter. LCM Capital Management Inc now owns 34,080 shares of the company’s stock worth $585,000 after purchasing an additional 650 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Palantir Technologies by 2.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock valued at $539,000 after acquiring an additional 675 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the topic of several recent research reports. Monness Crespi & Hardt upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. Mizuho lifted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Wedbush reiterated an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their target price for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Finally, Raymond James lifted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Up 0.7 %

Shares of NYSE PLTR opened at $22.12 on Thursday. 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 $48.95 billion, a PE ratio of 245.81, a P/E/G ratio of 5.39 and a beta of 2.76. The company has a 50-day moving average of $23.38 and a two-hundred day moving average of $20.16.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, 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. Over the last three months, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Insiders own 13.96% of the company’s stock.

Palantir Technologies 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.