Tidal Investments LLC Cuts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Tidal Investments LLC reduced its position in Palantir Technologies Inc. (NYSE:PLTR) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 227,428 shares of the company’s stock after selling 8,930 shares during the quarter. Tidal Investments LLC’s holdings in Palantir Technologies were worth $5,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $26,000. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. Bogart Wealth LLC increased its holdings in Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Palantir Technologies during the fourth quarter worth $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 1.3 %

Shares of Palantir Technologies stock traded down $0.35 during mid-day trading on Thursday, hitting $26.54. The stock had a trading volume of 12,875,361 shares, compared to its average volume of 54,357,645. The firm has a market cap of $59.10 billion, a P/E ratio of 225.10, a price-to-earnings-growth ratio of 6.09 and a beta of 2.71. The firm has a 50-day moving average of $25.19 and a two-hundred day moving average of $23.16. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $29.83.

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

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Peter Thiel sold 5,000,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now owns 15,733,625 shares of the company’s stock, valued at approximately $326,944,727.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,447,179 shares of company stock valued at $242,285,913. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLTR. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday. HSBC raised their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Royal Bank of Canada increased their price objective on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday, May 7th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Seven analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.96.

Palantir Technologies Company 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.