Chapin Davis Inc. Sells 4,000 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Chapin Davis Inc. decreased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 28.4% during the 1st quarter, Holdings Channel reports. The fund owned 10,100 shares of the company’s stock after selling 4,000 shares during the quarter. Chapin Davis Inc.’s holdings in Palantir Technologies were worth $232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PLTR. Vanguard Group Inc. lifted its stake in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. Morgan Stanley lifted its position in shares of Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Palantir Technologies by 8.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after purchasing an additional 955,992 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after purchasing an additional 1,514,232 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in shares of Palantir Technologies by 11.5% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,249,083 shares of the company’s stock worth $141,554,000 after purchasing an additional 850,687 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PLTR shares. Citigroup boosted their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Friday, June 21st. Bank of America boosted their target price 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. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

PLTR stock opened at $25.88 on Tuesday. The company’s 50-day simple moving average is $22.72 and its 200 day simple moving average is $21.59. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $27.50. The company has a market capitalization of $57.62 billion, a PE ratio of 215.64, a price-to-earnings-growth ratio of 5.85 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. On average, analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Insiders sold 11,372,153 shares of company stock valued at $239,941,245 over the last quarter. 12.93% of the stock is owned by company insiders.

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.