Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Wealth Management Partners LLC

Wealth Management Partners LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 24,897 shares of the company’s stock after selling 233 shares during the period. Palantir Technologies accounts for 1.0% of Wealth Management Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Wealth Management Partners LLC’s holdings in Palantir Technologies were worth $2,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. Roxbury Financial LLC purchased a new position in Palantir Technologies during the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC grew its stake in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new position in Palantir Technologies during the 4th quarter worth approximately $31,000. First Command Advisory Services Inc. purchased a new position in Palantir Technologies during the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 2.4%

Palantir Technologies stock opened at $130.01 on Thursday. The firm has a market capitalization of $306.81 billion, a P/E ratio of 684.30, a PEG ratio of 10.84 and a beta of 2.64. The stock has a fifty day moving average price of $108.44 and a 200 day moving average price of $91.31. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on PLTR. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Loop Capital lifted their price objective on Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $83.95.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 35,480 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the sale, the insider now directly owns 367,691 shares in the company, valued at $46,472,465.49. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Buckley sold 1,708 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $215,874.12. Following the completion of the sale, the insider now owns 34,468 shares in the company, valued at approximately $4,356,410.52. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock valued at $369,820,528 in the last quarter. Insiders own 9.23% of the company’s stock.

Palantir Technologies Profile

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.