Crewe Advisors LLC Lowers Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Crewe Advisors LLC reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 40.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,509 shares of the company’s stock after selling 1,040 shares during the quarter. Crewe Advisors LLC’s holdings in Palantir Technologies were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Palantir Technologies by 9.7% in the 4th quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock worth $2,896,000 after acquiring an additional 14,952 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Palantir Technologies during the fourth quarter valued at $564,000. GAMMA Investing LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth $33,000. Yousif Capital Management LLC increased its holdings in shares of Palantir Technologies by 5.3% in the 4th quarter. Yousif Capital Management LLC now owns 19,197 shares of the company’s stock worth $330,000 after buying an additional 970 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Palantir Technologies by 44.0% during the 4th quarter. Truist Financial Corp now owns 115,520 shares of the company’s stock valued at $1,983,000 after buying an additional 35,295 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. 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, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $23.93.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $31.49 on Friday. The firm has a 50-day simple moving average of $28.21 and a 200-day simple moving average of $24.87. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $33.13. The firm has a market cap of $70.12 billion, a P/E ratio of 262.42, a P/E/G ratio of 5.66 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric H. Woersching sold 26,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $23.32, for a total value of $606,320.00. Following the sale, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The disclosure for this sale can be found here. Insiders have sold 714,648 shares of company stock worth $21,567,539 over the last quarter. Insiders own 12.93% 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.