Chapin Davis Inc. Reduces Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Chapin Davis Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 28.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,100 shares of the company’s stock after selling 4,000 shares during the period. Chapin Davis Inc.’s holdings in Palantir Technologies were worth $232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. First United Bank & Trust purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $26,000. Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $27,000. West Paces Advisors Inc. grew its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 2,398 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the transaction, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. Insiders sold a total of 11,372,153 shares of company stock valued at $239,941,245 in the last quarter. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $25.88 on Tuesday. The firm has a market cap of $57.62 billion, a PE ratio of 215.64, a price-to-earnings-growth ratio of 5.85 and a beta of 2.71. The firm’s 50-day simple moving average is $22.72 and its 200-day simple moving average is $21.59. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. On average, equities analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. DA Davidson boosted their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Mizuho lifted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, May 7th. Wedbush restated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. Finally, HSBC lifted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.25.

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.