BNC Wealth Management LLC Sells 2,473 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

BNC Wealth Management LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,755 shares of the company’s stock after selling 2,473 shares during the period. Palantir Technologies accounts for 1.8% of BNC Wealth Management LLC’s portfolio, making the stock its 16th largest holding. BNC Wealth Management LLC’s holdings in Palantir Technologies were worth $5,578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp raised its position in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its position in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC raised its position in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 3.7 %

Shares of PLTR opened at $71.77 on Friday. The firm’s 50-day moving average is $70.49 and its two-hundred day moving average is $47.17. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PLTR shares. UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Mizuho increased their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Robert W. Baird began coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $43.78.

Insider Activity

In related news, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the sale, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 over the last ninety days. 12.93% of the stock is currently owned by insiders.

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.