Onyx Bridge Wealth Group LLC Trims Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Onyx Bridge Wealth Group LLC decreased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,032 shares of the company’s stock after selling 2,485 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Palantir Technologies were worth $430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC grew its position in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing 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 about $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $28,000. Provence Wealth Management Group purchased a new stake in shares of Palantir Technologies during the third quarter worth about $34,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in shares of Palantir Technologies during the third quarter worth about $35,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PLTR shares. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Wednesday, February 14th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price target for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Finally, Raymond James increased their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $18.35.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the sale, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now owns 191,783 shares in the company, valued at $4,777,314.53. The disclosure for this sale can be found here. In the last three months, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Insiders own 13.96% of the company’s stock.

Palantir Technologies Trading Down 3.1 %

Shares of PLTR stock traded down $0.66 on Friday, reaching $20.47. 39,632,591 shares of the company’s stock were exchanged, compared to its average volume of 35,153,176. Palantir Technologies Inc. has a 52 week low of $7.28 and a 52 week high of $27.50. The stock has a market capitalization of $45.29 billion, a PE ratio of 227.53, a P/E/G ratio of 5.18 and a beta of 2.78. The company’s fifty day simple moving average is $23.77 and its 200 day simple moving average is $19.85.

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

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.