Triumph Capital Management Sells 41,712 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Triumph Capital Management reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 60.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 26,819 shares of the company’s stock after selling 41,712 shares during the period. Palantir Technologies comprises about 0.7% of Triumph Capital Management’s investment portfolio, making the stock its 28th largest holding. Triumph Capital Management’s holdings in Palantir Technologies were worth $2,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Palantir Technologies by 16.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,172 shares of the company’s stock valued at $3,265,000 after acquiring an additional 6,160 shares in the last quarter. Gateway Investment Advisers LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth $1,402,000. Tallon Kerry Patrick bought a new position in Palantir Technologies in the fourth quarter valued at $289,000. Ritholtz Wealth Management purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $808,000. Finally, Certified Advisory Corp purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $206,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLTR shares. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Finally, Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $83.95.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the acquisition, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. This represents a 20.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock valued at $250,504,866 over the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $129.52 on Friday. The firm’s 50 day moving average price is $98.72 and its 200-day moving average price is $85.13. Palantir Technologies Inc. has a 52-week low of $20.63 and a 52-week high of $133.49. The company has a market cap of $303.77 billion, a PE ratio of 681.72, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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.