Elite Wealth Management Inc. Decreases Position in Palantir Technologies Inc. (NYSE:PLTR)

Elite Wealth Management Inc. cut its position in Palantir Technologies Inc. (NYSE:PLTR) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 122,241 shares of the company’s stock after selling 1,109 shares during the period. Palantir Technologies makes up about 0.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Elite Wealth Management Inc.’s holdings in Palantir Technologies were worth $2,099,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC grew its stake in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the period. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $28,000. Provence Wealth Management Group bought a new stake in Palantir Technologies during the third quarter valued at approximately $34,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Palantir Technologies during the third quarter valued at approximately $35,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $0.02 during mid-day trading on Wednesday, hitting $21.88. The company had a trading volume of 33,869,201 shares, compared to its average volume of 36,256,228. 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 price is $23.96 and its 200-day moving average price is $19.80. The company has a market capitalization of $48.41 billion, a P/E ratio of 243.11, a P/E/G ratio of 5.37 and a beta of 2.78.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush restated an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Raymond James boosted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Finally, Mizuho boosted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $18.35.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the sale, the insider now directly owns 662,006 shares in the company, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by corporate insiders.

Palantir Technologies Company 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.