Palantir Technologies Inc. (NYSE:PLTR) Stake Reduced by Clearwater Capital Advisors LLC

Clearwater Capital Advisors LLC lowered its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,963 shares of the company’s stock after selling 894 shares during the period. Clearwater Capital Advisors LLC’s holdings in Palantir Technologies were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter valued at about $25,000. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after buying an additional 1,065 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Shares of NYSE PLTR traded up $0.17 during mid-day trading on Friday, hitting $30.33. 50,946,777 shares of the stock traded hands, compared to its average volume of 54,189,438. The firm has a 50 day simple moving average of $28.81 and a two-hundred day simple moving average of $25.09. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $33.13. The company has a market cap of $67.54 billion, a PE ratio of 252.75, a price-to-earnings-growth ratio of 5.55 and a beta of 2.72.

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). The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group upped their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. DA Davidson lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.00.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total value of $72,720.00. Following the completion of the transaction, the director now directly owns 35,843 shares of the company’s stock, valued at approximately $868,834.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total transaction of $72,720.00. Following the completion of the sale, the director now owns 35,843 shares in the company, valued at approximately $868,834.32. The disclosure for this sale can be found here. Insiders sold 722,664 shares of company stock worth $22,008,889 over the last ninety days. 12.93% of the stock is 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.