Cyndeo Wealth Partners LLC Sells 1,183 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Cyndeo Wealth Partners LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,221 shares of the company’s stock after selling 1,183 shares during the quarter. Palantir Technologies comprises 0.9% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 29th biggest holding. Cyndeo Wealth Partners LLC’s holdings in Palantir Technologies were worth $12,798,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Palantir Technologies by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after buying an additional 278,544 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $330,000. Thrivent Financial for Lutherans raised its position in shares of Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after acquiring an additional 9,109 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Palantir Technologies by 14.9% during the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after acquiring an additional 1,702 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in Palantir Technologies by 95.6% in the second quarter. Fred Alger Management LLC now owns 120,153 shares of the company’s stock valued at $3,043,000 after acquiring an additional 58,724 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLTR. Morgan Stanley reissued an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research note on Friday, January 17th. They set a “neutral” rating and a $72.00 price target for the company. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Mizuho lifted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.61.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,518,855 shares of company stock valued at $1,438,682,423 in the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $78.98 on Friday. The firm has a market capitalization of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. The stock has a 50 day simple moving average of $71.96 and a 200 day simple moving average of $48.89. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Palantir Technologies 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.