EP Wealth Advisors LLC Decreases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

EP Wealth Advisors LLC cut its position in Palantir Technologies Inc. (NYSE:PLTR) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,236 shares of the company’s stock after selling 2,280 shares during the quarter. EP Wealth Advisors LLC’s holdings in Palantir Technologies were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,063,645 shares of the company’s stock valued at $121,283,000 after acquiring an additional 403,905 shares during the last quarter. Finally, Coatue Management LLC lifted its position in shares of Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after buying an additional 2,553,432 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. DA Davidson increased their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. HSBC increased their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.32.

Palantir Technologies Price Performance

Shares of PLTR traded up $0.55 during mid-day trading on Friday, hitting $27.18. The company’s stock had a trading volume of 27,432,224 shares, compared to its average volume of 43,057,688. The firm has a 50-day moving average price of $24.86 and a 200 day moving average price of $22.90. The stock has a market capitalization of $60.53 billion, a price-to-earnings ratio of 226.52, a PEG ratio of 6.15 and a beta of 2.71. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $29.83.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now directly owns 15,733,625 shares in the company, valued at $326,944,727.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the sale, the director now owns 15,733,625 shares of the company’s stock, valued at $326,944,727.50. The disclosure for this sale can be found here. Insiders sold a total of 11,467,179 shares of company stock worth $242,726,313 over the last ninety days. 12.93% of the stock is currently 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.