Grove Bank & Trust Has $397,000 Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Grove Bank & Trust lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 25.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,246 shares of the company’s stock after selling 1,754 shares during the quarter. Grove Bank & Trust’s holdings in Palantir Technologies were worth $397,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PLTR. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd bought a new position in shares of Palantir Technologies during the 2nd quarter valued at about $36,000. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America raised their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Robert W. Baird started coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. UBS Group assumed coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Wedbush upped their price objective on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.78.

Palantir Technologies Price Performance

Shares of PLTR opened at $71.77 on Monday. The business has a 50-day moving average of $70.49 and a 200-day moving average of $47.32. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The company has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the company earned $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.