Benjamin Edwards Inc. Sells 22,223 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Benjamin Edwards Inc. trimmed its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 102,222 shares of the company’s stock after selling 22,223 shares during the quarter. Benjamin Edwards Inc.’s holdings in Palantir Technologies were worth $1,755,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Fisher Asset Management LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth $734,000. JFG Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at about $446,000. First Trust Direct Indexing L.P. boosted its position in shares of Palantir Technologies by 31.5% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,800 shares of the company’s stock valued at $254,000 after acquiring an additional 3,542 shares during the last quarter. Great Valley Advisor Group Inc. increased its position in shares of Palantir Technologies by 8.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 88,820 shares of the company’s stock worth $1,525,000 after purchasing an additional 6,864 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Palantir Technologies by 118.8% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,389 shares of the company’s stock valued at $75,000 after purchasing an additional 2,383 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the transaction, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock valued at $184,343,202 in the last three months. Company insiders own 13.96% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock traded up $0.40 on Thursday, reaching $22.52. The company’s stock had a trading volume of 17,605,374 shares, compared to its average volume of 61,086,680. The business has a fifty day simple moving average of $23.38 and a two-hundred day simple moving average of $20.16. The firm has a market cap of $49.83 billion, a PE ratio of 248.81, a PEG ratio of 5.39 and a beta of 2.76. Palantir Technologies Inc. has a 12-month low of $7.28 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLTR shares. Wedbush restated an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Raymond James raised 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. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Finally, Mizuho upped their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.35.

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.