Onyx Bridge Wealth Group LLC Sells 2,485 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Onyx Bridge Wealth Group LLC lessened its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,032 shares of the company’s stock after selling 2,485 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Palantir Technologies were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Wetzel Investment Advisors Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $50,000. Institute for Wealth Management LLC. bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $205,000. Western Wealth Management LLC boosted its holdings in Palantir Technologies by 25.4% in the fourth quarter. Western Wealth Management LLC now owns 35,194 shares of the company’s stock valued at $604,000 after acquiring an additional 7,125 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Palantir Technologies by 5,559.4% in the fourth quarter. Federated Hermes Inc. now owns 291,970 shares of the company’s stock valued at $5,013,000 after acquiring an additional 286,811 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Palantir Technologies by 104.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,890 shares of the company’s stock valued at $67,000 after acquiring an additional 1,990 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PLTR. Raymond James upped their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Mizuho boosted their price target on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $18.35.

Palantir Technologies Stock Down 3.1 %

NYSE PLTR traded down $0.66 on Friday, reaching $20.47. The company had a trading volume of 39,632,591 shares, compared to its average volume of 35,153,176. The stock has a market capitalization of $45.29 billion, a P/E ratio of 227.53, a P/E/G ratio of 5.18 and a beta of 2.78. The company’s fifty day moving average is $23.77 and its 200 day moving average is $19.85. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50.

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). The company had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 29,168 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now 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 three months, insiders sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by insiders.

About Palantir Technologies

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.