Grove Bank & Trust Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Grove Bank & Trust lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 25.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,246 shares of the company’s stock after selling 1,754 shares during the quarter. Grove Bank & Trust’s holdings in Palantir Technologies were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. Dimensional Fund Advisors LP boosted its position in shares of Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after acquiring an additional 278,544 shares during the period. Edgestream Partners L.P. bought a new position in Palantir Technologies in the 2nd quarter valued at $350,000. Mercer Global Advisors Inc. ADV grew its position in shares of Palantir Technologies by 18.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock valued at $4,728,000 after purchasing an additional 30,030 shares in the last quarter. Amalgamated Bank raised its position in shares of Palantir Technologies by 5.0% in the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after buying an additional 6,472 shares in the last quarter. Finally, Blair William & Co. IL raised its position in shares of Palantir Technologies by 18.4% in the second quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock worth $1,569,000 after buying an additional 9,623 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLTR shares. UBS Group started coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Bank of America boosted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Morgan Stanley restated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.78.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $71.77 on Monday. The company’s 50 day moving average price is $70.49 and its 200-day moving average price is $47.32. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The stock has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.