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

Accel Wealth Management trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,550 shares of the company's stock after selling 7,992 shares during the period. Accel Wealth Management's holdings in Palantir Technologies were worth $975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at about $27,000. HighMark Wealth Management LLC grew its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $31,000. R Squared Ltd acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $33,000. Finally, First Command Advisory Services Inc. purchased a new position in Palantir Technologies during the fourth quarter worth approximately $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 150,814 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $19,061,381.46. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $88,825,122.54. This trade represents a 17.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PLTR shares. Loop Capital lifted their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Mizuho raised their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated 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 assigned a hold rating and three have given 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 $83.95.

Palantir Technologies Stock Down 7.8%

Shares of NASDAQ PLTR traded down $10.10 during midday trading on Thursday, hitting $119.91. The stock had a trading volume of 130,949,256 shares, compared to its average volume of 79,622,867. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $135.28. The company has a market capitalization of $282.98 billion, a price-to-earnings ratio of 631.14, a PEG ratio of 10.84 and a beta of 2.64. The company has a fifty day moving average price of $108.44 and a 200 day moving average price of $91.31.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company 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 company's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.