Gladstone Institutional Advisory LLC Trims Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Posted by Defense World Staff on Apr 22nd, 2023

Gladstone Institutional Advisory LLC lessened its stake in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 26.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,132 shares of the company’s stock after selling 4,334 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Palantir Technologies were worth $78,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Utah Retirement Systems raised its holdings in Palantir Technologies by 1.4% during the 3rd quarter. Utah Retirement Systems now owns 95,700 shares of the company’s stock valued at $778,000 after buying an additional 1,300 shares during the last quarter. PFG Advisors raised its holdings in Palantir Technologies by 9.3% during the 3rd quarter. PFG Advisors now owns 15,873 shares of the company’s stock valued at $129,000 after buying an additional 1,349 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Palantir Technologies by 2.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 70,489 shares of the company’s stock valued at $573,000 after buying an additional 1,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Palantir Technologies by 1.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 153,700 shares of the company’s stock valued at $2,110,000 after buying an additional 1,500 shares during the last quarter. Finally, Chemistry Wealth Management LLC increased its position in Palantir Technologies by 8.5% during the 3rd quarter. Chemistry Wealth Management LLC now owns 19,309 shares of the company’s stock valued at $157,000 after purchasing an additional 1,520 shares during the period. Hedge funds and other institutional investors own 31.90% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total value of $54,950.00. Following the transaction, the director now owns 206,830 shares in the company, valued at approximately $1,623,615.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider Jeffrey Buckley sold 4,636 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $8.55, for a total transaction of $39,637.80. Following the sale, the insider now owns 334,051 shares in the company, valued at approximately $2,856,136.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total transaction of $54,950.00. Following the sale, the director now directly owns 206,830 shares of the company’s stock, valued at $1,623,615.50. The disclosure for this sale can be found here. Insiders have sold 206,462 shares of company stock worth $1,980,256 in the last quarter. Company insiders own 13.71% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $8.18 on Friday. The company’s 50-day simple moving average is $8.31 and its two-hundred day simple moving average is $7.76. Palantir Technologies Inc. has a 52-week low of $5.84 and a 52-week high of $12.73.

Palantir Technologies (NYSE:PLTR – Get Rating) last issued its quarterly earnings data on Monday, February 13th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Palantir Technologies had a negative net margin of 19.61% and a negative return on equity of 11.90%. The firm had revenue of $508.62 million for the quarter, compared to analysts’ expectations of $504.84 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research report on Thursday, February 23rd. The Goldman Sachs Group reduced their price objective on shares of Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 14th. Citigroup reaffirmed a “sell” rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Friday, February 3rd. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Palantir Technologies in a research report on Wednesday, February 15th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.85.

Palantir Technologies Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.