Altus Wealth Management LLC Has $220,000 Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Altus Wealth Management LLC decreased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,811 shares of the company’s stock after selling 872 shares during the quarter. Altus Wealth Management LLC’s holdings in Palantir Technologies were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLTR. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after buying an additional 18,756,392 shares during the period. BlackRock Inc. lifted its holdings in shares of Palantir Technologies by 2.0% in the 1st quarter. BlackRock Inc. now owns 98,631,611 shares of the company’s stock worth $833,437,000 after purchasing an additional 1,937,114 shares in the last quarter. State Street Corp lifted its holdings in shares of Palantir Technologies by 0.9% in the 2nd quarter. State Street Corp now owns 35,816,153 shares of the company’s stock worth $549,062,000 after purchasing an additional 312,531 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 23,712,480 shares of the company’s stock worth $200,086,000 after purchasing an additional 747,652 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, Director Peter Thiel sold 7,044,756 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the sale, the director now owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Ryan D. Taylor sold 150,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the completion of the sale, the insider now owns 181,460 shares of the company’s stock, valued at $4,355,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a report on Thursday, March 28th. Raymond James boosted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Bank of America boosted their price target 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, Royal Bank of Canada restated an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Stock Performance

PLTR traded up $0.11 during midday trading on Monday, hitting $23.07. The stock had a trading volume of 18,873,563 shares, compared to its average volume of 68,889,266. The company has a market cap of $51.05 billion, a P/E ratio of 257.25, a price-to-earnings-growth ratio of 5.63 and a beta of 2.78. The business has a fifty day moving average of $23.24 and a 200 day moving average of $19.42. Palantir Technologies Inc. has a 1 year low of $7.28 and a 1 year high of $27.50.

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

About Palantir Technologies

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.