First Horizon Advisors Inc. Cuts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

First Horizon Advisors Inc. cut its position in Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 48.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,733 shares of the company’s stock after selling 2,576 shares during the period. First Horizon Advisors Inc.’s holdings in Palantir Technologies were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Natixis boosted its stake in shares of Palantir Technologies by 39.9% in the third quarter. Natixis now owns 2,546,816 shares of the company’s stock worth $61,225,000 after acquiring an additional 725,796 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Palantir Technologies by 26.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 488,940 shares of the company’s stock worth $8,904,000 after acquiring an additional 100,741 shares during the last quarter. Bouvel Investment Partners LLC boosted its stake in shares of Palantir Technologies by 1.2% in the fourth quarter. Bouvel Investment Partners LLC now owns 99,153 shares of the company’s stock worth $1,806,000 after acquiring an additional 1,209 shares during the last quarter. Banque Pictet & Cie SA boosted its stake in shares of Palantir Technologies by 3,634.0% in the fourth quarter. Banque Pictet & Cie SA now owns 320,787 shares of the company’s stock worth $5,842,000 after acquiring an additional 312,196 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $62,000. 40.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Palantir Technologies stock opened at $8.34 on Friday. Palantir Technologies Inc. has a 52 week low of $6.44 and a 52 week high of $29.29. The business’s fifty day simple moving average is $11.75 and its 200-day simple moving average is $15.53. The firm has a market cap of $16.93 billion, a PE ratio of -33.36 and a beta of 5.00.

Palantir Technologies (NYSE:PLTRGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $446.36 million during the quarter, compared to analyst estimates of $443.51 million. Palantir Technologies had a negative net margin of 30.25% and a positive return on equity of 12.04%. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period last year, the company earned $0.04 EPS. On average, research analysts expect that Palantir Technologies Inc. will post 0.18 earnings per share for the current year.

In other Palantir Technologies news, Director Alexander D. Moore sold 36,500 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $12.02, for a total transaction of $438,730.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 194,817 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $10.62, for a total value of $2,068,956.54. The disclosure for this sale can be found here. Insiders sold a total of 347,256 shares of company stock worth $3,900,073 in the last quarter. Company insiders own 17.00% of the company’s stock.

PLTR has been the topic of a number of recent research reports. Wolfe Research reissued a “hold” rating and set a $9.00 price objective on shares of Palantir Technologies in a research note on Friday, February 18th. Citigroup lowered their price objective on Palantir Technologies from $10.00 to $7.00 in a research note on Tuesday. Piper Sandler boosted their price objective on Palantir Technologies from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Zacks Investment Research lowered Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 22nd. Finally, Monness Crespi & Hardt initiated coverage on Palantir Technologies in a research note on Monday, April 11th. They set a “buy” rating and a $20.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $15.20.

Palantir Technologies Company Profile (Get Rating)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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