Allianz SE Sells 2,710 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Allianz SE cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,590 shares of the company's stock after selling 2,710 shares during the period. Allianz SE's holdings in Palantir Technologies were worth $303,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Capital World Investors purchased a new position in Palantir Technologies in the fourth quarter valued at about $253,816,000. Northern Trust Corp raised its holdings in Palantir Technologies by 20.4% in the fourth 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 in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at about $216,953,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Palantir Technologies by 266.2% in the 4th quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company's stock valued at $297,449,000 after buying an additional 2,859,091 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $154.27 on Monday. The company has a fifty day moving average of $140.37 and a 200 day moving average of $112.57. The company has a market capitalization of $364.06 billion, a PE ratio of 670.74, a P/E/G ratio of 13.15 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $160.89.

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

Analyst Ratings Changes

Several research firms recently commented on PLTR. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital boosted their target price on Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $96.45.

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was 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. Over the last quarter, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 12.93% of the stock is owned by company insiders.

Palantir Technologies Company 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.

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