Sigma Planning Corp Reduces Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Sigma Planning Corp reduced its position in Palantir Technologies Inc. (NYSE:PLTR) by 49.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,645 shares of the company’s stock after selling 25,490 shares during the quarter. Sigma Planning Corp’s holdings in Palantir Technologies were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC lifted its stake in shares of Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after buying an additional 700 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. Provence Wealth Management Group bought a new position in shares of Palantir Technologies in the third quarter worth $34,000. Glass Jacobson Investment Advisors llc purchased a new position in shares of Palantir Technologies in the third quarter valued at $35,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of Palantir Technologies by 1,197.4% during the 4th quarter. SJS Investment Consulting Inc. now owns 2,011 shares of the company’s stock valued at $35,000 after purchasing an additional 1,856 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the transaction, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock worth $184,343,202 in the last 90 days. 13.96% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

NYSE PLTR opened at $21.71 on Friday. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50. The company has a market capitalization of $48.04 billion, a P/E ratio of 241.25, a P/E/G ratio of 5.29 and a beta of 2.78. The company has a fifty day moving average of $23.49 and a 200-day moving average of $20.01.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PLTR. Wedbush reiterated an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Raymond James upped their target price 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. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Bank of America raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.35.

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.