HB Wealth Management LLC Has $434,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

HB Wealth Management LLC trimmed its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 35.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,276 shares of the company’s stock after selling 13,794 shares during the quarter. HB Wealth Management LLC’s holdings in Palantir Technologies were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PLTR. Truvestments Capital LLC boosted its holdings in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the last quarter. Pacifica Partners Inc. purchased a new position in Palantir Technologies during the 4th quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new position in Palantir Technologies during the 4th quarter worth $28,000. Provence Wealth Management Group purchased a new position in Palantir Technologies during the 3rd quarter worth $34,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in Palantir Technologies during the 3rd quarter worth $35,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $24.50 on Thursday. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50. The stock’s 50-day simple moving average is $22.40 and its 200 day simple moving average is $19.03. The stock has a market capitalization of $54.21 billion, a P/E ratio of 272.22, a P/E/G ratio of 6.01 and a beta of 2.82.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLTR. Mizuho lifted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Bank of America boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Raymond James boosted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Three 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.21.

Insider Activity

In other news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the sale, the director now directly owns 200,783 shares in the company, valued at $3,234,614.13. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’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 sale, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 200,783 shares in the company, valued at $3,234,614.13. The disclosure for this sale can be found here. Insiders have sold a total of 7,455,273 shares of company stock worth $184,293,942 over the last ninety days. Company 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.