Sfmg LLC Reduces Stake in Palantir Technologies Inc. (NYSE:PLTR)

Sfmg LLC trimmed its stake in Palantir Technologies Inc. (NYSE:PLTR) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,369 shares of the company’s stock after selling 5,511 shares during the quarter. Sfmg LLC’s holdings in Palantir Technologies were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. AlphaCrest Capital Management LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at approximately $206,000. D.A. Davidson & CO. raised its position in shares of Palantir Technologies by 18.6% in the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after purchasing an additional 2,286 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at approximately $1,475,000. Cibc World Market Inc. raised its position in shares of Palantir Technologies by 38.3% in the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Palantir Technologies by 71.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after purchasing an additional 482,171 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Wednesday, February 14th. Raymond James upped their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Bank of America upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Price Performance

PLTR stock traded down $0.02 during midday trading on Wednesday, reaching $21.88. The company had a trading volume of 33,869,201 shares, compared to its average volume of 36,256,228. Palantir Technologies Inc. has a 1 year low of $7.28 and a 1 year high of $27.50. The company has a market capitalization of $48.41 billion, a P/E ratio of 243.11, a P/E/G ratio of 5.37 and a beta of 2.78. The firm has a 50-day moving average price of $23.96 and a 200-day moving average price of $19.80.

Palantir Technologies (NYSE:PLTR) last released its quarterly 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). 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 analysts’ expectations of $603.48 million. On average, equities analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the stock in a transaction on Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Corporate 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.