Fernwood Investment Management LLC Sells 11,000 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Fernwood Investment Management LLC reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 47.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,170 shares of the company’s stock after selling 11,000 shares during the quarter. Fernwood Investment Management LLC’s holdings in Palantir Technologies were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its position in Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after buying an additional 18,756,392 shares during the last quarter. Morgan Stanley boosted its stake in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Palantir Technologies by 8.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock valued at $216,183,000 after purchasing an additional 955,992 shares during the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after purchasing an additional 601,012 shares during the period. Finally, ARK Investment Management LLC lifted its stake in Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Wedbush restated an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Mizuho boosted their price target on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.35.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $24.91, for a total transaction of $124,550.00. Following the transaction, the director now owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by insiders.

Palantir Technologies Trading Down 1.4 %

PLTR stock traded down $0.33 during midday trading on Tuesday, reaching $22.50. 9,738,005 shares of the company’s stock traded hands, compared to its average volume of 61,680,754. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50. The stock’s 50-day moving average is $23.42 and its 200 day moving average is $20.11. The stock has a market cap of $49.79 billion, a P/E ratio of 250.47, a PEG ratio of 5.52 and a beta of 2.78.

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