Aigen Investment Management LP Sells 13,026 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Aigen Investment Management LP reduced its holdings in Palantir Technologies by 71.4%, selling 13,026 shares and retaining only 5,226 shares worth $441,000.
• Palantir Technologies' stock saw a trading volume of over 53 million shares recently, with shares trading down to $184.37, reflecting a significant market cap of $435.1 billion.
• Several institutional investors increased their stakes, with Northern Trust Corp growing by 20.4% and Goldman Sachs Group Inc. by 38.5% in the recent quarter.

Aigen Investment Management LP trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 71.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,226 shares of the company's stock after selling 13,026 shares during the period. Aigen Investment Management LP's holdings in Palantir Technologies were worth $441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp grew its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Invesco Ltd. grew its position in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. grew its position in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. grew its position in 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 worth $1,149,055,000 after purchasing an additional 571,544 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Palantir Technologies by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after purchasing an additional 187,860 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded down $2.60 during trading hours on Wednesday, reaching $184.37. The company's stock had a trading volume of 53,416,270 shares, compared to its average volume of 60,256,280. The firm has a 50 day moving average price of $148.82 and a 200-day moving average price of $117.81. Palantir Technologies Inc. has a one year low of $29.31 and a one year high of $190.00. The stock has a market cap of $435.10 billion, a P/E ratio of 614.59, a P/E/G ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Loop Capital boosted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $136.61.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 30,812 shares of the company'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 in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% 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 in the last three months. 9.23% of the stock is owned by insiders.

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.