Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors Co. reduced its holdings in Palantir Technologies by 40.9%, selling 1,762 shares, and now owns a total of 2,543 shares worth $215,000.
• Palantir Technologies reported a 48% year-over-year revenue increase with quarterly earnings of $1 billion and an EPS of $0.16, surpassing expectations.
• A recent analysis showed mixed opinions among analysts, with a consensus rating of "Hold" and an average price target of $136.61 for Palantir Technologies' stock.

1834 Investment Advisors Co. lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,543 shares of the company's stock after selling 1,762 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Palantir Technologies were worth $215,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG boosted its holdings in shares of Palantir Technologies by 0.4% in the 1st quarter. Deutsche Bank AG now owns 6,814,280 shares of the company's stock valued at $575,125,000 after purchasing an additional 29,055 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Palantir Technologies by 17.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 22,865 shares of the company's stock valued at $1,930,000 after purchasing an additional 3,446 shares during the last quarter. Commonwealth Financial Services LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $379,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after purchasing an additional 571,544 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $15,431,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $4.76 during trading on Friday, reaching $186.96. 62,386,781 shares of the company's stock traded hands, compared to its average volume of 61,219,692. Palantir Technologies Inc. has a 12 month low of $29.10 and a 12 month high of $187.99. The company has a 50 day moving average of $145.64 and a 200-day moving average of $115.61. The stock has a market capitalization of $441.21 billion, a P/E ratio of 623.22, a price-to-earnings-growth ratio of 11.57 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLTR. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the company from $80.00 to $160.00 in a report on Tuesday. Citigroup restated a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday. Wall Street Zen upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $136.61.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. The trade was a 8.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the transaction, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,515,632 shares of company stock worth $196,472,623 over the last three months. Insiders own 9.23% 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.