Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Alpha Wealth Funds LLC

Alpha Wealth Funds LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,515 shares of the company's stock after selling 2,272 shares during the quarter. Palantir Technologies comprises approximately 1.1% of Alpha Wealth Funds LLC's portfolio, making the stock its 11th biggest position. Alpha Wealth Funds LLC's holdings in Palantir Technologies were worth $1,056,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. boosted its position in shares of Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Sage Advisors LLC bought a new stake in Palantir Technologies in the fourth quarter worth $369,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Palantir Technologies by 13.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 247,585 shares of the company's stock worth $18,725,000 after acquiring an additional 28,534 shares during the last quarter. MGB Wealth Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at $278,000. Finally, FFG Partners LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $4,886,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $10.10 on Thursday, hitting $119.91. The company had a trading volume of 130,949,256 shares, compared to its average volume of 79,623,399. The company's fifty day moving average price is $108.44 and its 200-day moving average price is $91.31. The company has a market capitalization of $282.98 billion, a PE ratio of 631.14, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLTR. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Loop Capital lifted their target price on Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, UBS Group increased their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $83.95.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $50,497.60. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock valued at $369,820,528 in the last 90 days. Company insiders own 9.23% of the company's stock.

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.