Cwm LLC Sells 1,877 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Cwm LLC decreased its position in Palantir Technologies Inc. (NYSE:PLTR) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,036 shares of the company’s stock after selling 1,877 shares during the quarter. Cwm LLC’s holdings in Palantir Technologies were worth $687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Palantir Technologies by 13.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 151,224 shares of the company’s stock valued at $2,597,000 after acquiring an additional 17,485 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $312,000. Signaturefd LLC raised its stake in shares of Palantir Technologies by 7.9% during the 4th quarter. Signaturefd LLC now owns 36,863 shares of the company’s stock worth $633,000 after purchasing an additional 2,710 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Palantir Technologies by 44.5% in the 4th quarter. Lindbrook Capital LLC now owns 6,902 shares of the company’s stock worth $119,000 after buying an additional 2,127 shares during the last quarter. Finally, abrdn plc grew its position in Palantir Technologies by 104.0% during the fourth quarter. abrdn plc now owns 659,660 shares of the company’s stock valued at $11,326,000 after buying an additional 336,360 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Raymond James upped their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Up 1.3 %

Shares of PLTR opened at $22.82 on Tuesday. The business’s 50-day moving average price is $23.42 and its 200-day moving average price is $20.11. Palantir Technologies Inc. has a twelve month low of $7.28 and a twelve month high of $27.50. The stock has a market cap of $50.49 billion, a PE ratio of 253.58, a P/E/G ratio of 5.52 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share 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 firm had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 transaction, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Corporate insiders own 13.96% of the company’s stock.

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.