Palantir Technologies Inc. (NASDAQ:PLTR) Position Trimmed by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 39.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,180 shares of the company’s stock after selling 21,194 shares during the period. Palantir Technologies comprises about 1.3% of Catalyst Private Wealth LLC’s portfolio, making the stock its 18th largest holding. Catalyst Private Wealth LLC’s holdings in Palantir Technologies were worth $2,716,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA lifted its position in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Westover Capital Advisors LLC boosted its stake in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after purchasing an additional 130 shares during the period. Finally, Tritonpoint Wealth LLC grew its position in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PLTR shares. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $126.63 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $133.49. The stock’s 50-day moving average is $105.90 and its two-hundred day moving average is $89.86. The firm has a market cap of $298.84 billion, a P/E ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. This represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 39,825 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. Insiders own 9.23% of the company’s stock.

Palantir Technologies Company Profile

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.