Allen Holding Inc. NY Has $168.80 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Allen Holding Inc. NY reduced its stake in Palantir Technologies Inc. by 20% selling 500,000 shares, leaving them with 2,000,000 shares which account for approximately 17.6% of their investment portfolio.
• Director Eric H. Woersching sold 10,214 shares of Palantir at an average price of $130.95, resulting in a significant 81.31% decrease in his position.
• Palantir's latest earnings report showed a revenue of $883.86 million for the quarter, up 39.4% year-over-year, meeting the consensus EPS estimate of $0.13.

Allen Holding Inc. NY lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000,000 shares of the company's stock after selling 500,000 shares during the quarter. Palantir Technologies accounts for 17.6% of Allen Holding Inc. NY's investment portfolio, making the stock its 3rd largest position. Allen Holding Inc. NY owned approximately 0.09% of Palantir Technologies worth $168,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Mechanics Financial Corp purchased a new position in Palantir Technologies during the 1st quarter valued at about $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies during the 1st quarter valued at about $33,000. Cornerstone Planning Group LLC increased its holdings in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after acquiring an additional 185 shares in the last quarter. Summit Securities Group LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $34,000. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wedbush set a $160.00 price target on shares of Palantir Technologies in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley lifted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $95.30.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director owned 2,348 shares in the company, valued at $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on 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 sale, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

PLTR stock traded down $1.59 during midday trading on Tuesday, reaching $156.29. 28,586,589 shares of the company's stock traded hands, compared to its average volume of 93,362,734. The company has a market capitalization of $368.83 billion, a P/E ratio of 679.42, a PEG ratio of 13.54 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $160.39. The business has a 50-day moving average price of $137.66 and a two-hundred day moving average price of $110.05.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.