Edge Wealth Management LLC Cuts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Edge Wealth Management LLC lessened its position in Palantir Technologies Inc. (NYSE:PLTR) by 19.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 14,100 shares of the company’s stock after selling 3,377 shares during the quarter. Edge Wealth Management LLC’s holdings in Palantir Technologies were worth $324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC increased its holdings in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. First United Bank & Trust purchased a new stake in Palantir Technologies during the 4th quarter worth about $26,000. Pacifica Partners Inc. purchased a new stake in Palantir Technologies during the 4th quarter worth about $27,000. West Paces Advisors Inc. increased its holdings in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. Bank of America upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. HSBC upped their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Finally, Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research report on Friday, June 21st. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $21.25.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,422 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $22.94, for a total transaction of $468,480.68. Following the transaction, the director now owns 1,587,707 shares in the company, valued at $36,421,998.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,377,153 shares of company stock worth $240,054,945. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NYSE PLTR traded up $0.10 during trading hours on Friday, reaching $25.32. The company’s stock had a trading volume of 4,094,314 shares, compared to its average volume of 56,514,305. The stock has a market cap of $56.39 billion, a PE ratio of 210.35, a PEG ratio of 5.56 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $27.50. The company’s 50-day moving average is $22.53 and its two-hundred day moving average is $21.43.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Equities analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

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.