Elite Wealth Management Inc. Has $2.10 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Elite Wealth Management Inc. lessened its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,241 shares of the company’s stock after selling 1,109 shares during the quarter. Palantir Technologies accounts for approximately 0.1% of Elite Wealth Management Inc.’s holdings, 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 quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Qsemble Capital Management LP bought a new position in Palantir Technologies during the 3rd quarter worth about $1,178,000. Trexquant Investment LP bought a new position in Palantir Technologies during the 3rd quarter worth about $4,446,000. Victory Capital Management Inc. grew its holdings in shares of Palantir Technologies by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after acquiring an additional 25,787 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Palantir Technologies by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after acquiring an additional 116,220 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Palantir Technologies by 148.4% in the 3rd quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock valued at $3,103,000 after acquiring an additional 115,876 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Bank of America raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Wedbush restated an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Trading Down 0.1 %

PLTR stock traded down $0.02 during mid-day trading on Wednesday, hitting $21.88. 33,869,201 shares of the company were exchanged, compared to its average volume of 36,256,228. The business has a 50 day simple moving average of $23.96 and a 200-day simple moving average of $19.80. The stock has a market capitalization of $48.41 billion, a PE ratio of 243.11, a price-to-earnings-growth ratio of 5.37 and a beta of 2.78. 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 quarterly earnings data 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 company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In other news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the transaction, the director now directly owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,456,273 shares of company stock worth $184,343,202. Corporate insiders own 13.96% of the company’s stock.

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.