Wellington Shields Capital Management LLC Decreases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Wellington Shields Capital Management LLC reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 50.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,600 shares of the company’s stock after selling 2,650 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Palantir Technologies were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PLTR. Evolution Wealth Advisors LLC boosted its holdings in shares of Palantir Technologies by 0.5% during the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after purchasing an additional 360 shares during the period. First Horizon Advisors Inc. lifted its holdings in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after buying an additional 379 shares during the period. Gradient Investments LLC grew its position in shares of Palantir Technologies by 21.4% in the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after buying an additional 406 shares during the last quarter. Apella Capital LLC increased its stake in shares of Palantir Technologies by 3.7% during the second quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after buying an additional 416 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after acquiring an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. DA Davidson boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Raymond James increased their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned 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 target price of $25.00.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $30.35 on Friday. The business has a fifty day moving average price of $28.81 and a 200-day moving average price of $25.08. The company has a market capitalization of $67.59 billion, a PE ratio of 252.92, a PEG ratio of 5.55 and a beta of 2.72. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $33.13.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data 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). The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The disclosure for this sale can be found here. Insiders sold 722,664 shares of company stock worth $22,008,889 over the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies 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.