Alps Advisors Inc. Has $3.71 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Alps Advisors Inc. lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,999 shares of the company's stock after selling 4,193 shares during the quarter. Alps Advisors Inc.'s holdings in Palantir Technologies were worth $3,714,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sovran Advisors LLC raised its position in Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the last quarter. Lodestone Wealth Management LLC raised its position in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the last quarter. Continuum Advisory LLC raised its position in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Sierra Ocean LLC raised its position in Palantir Technologies by 26.6% in the 1st quarter. Sierra Ocean LLC now owns 523 shares of the company's stock valued at $44,000 after buying an additional 110 shares during the last quarter. Finally, Heritage Wealth Management Inc. CA raised its position in Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PLTR shares. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $0.40 on Friday, hitting $142.10. 52,005,962 shares of the company's stock were exchanged, compared to its average volume of 83,116,240. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The stock has a market cap of $335.34 billion, a P/E ratio of 617.83, a price-to-earnings-growth ratio of 12.16 and a beta of 2.59. The company has a 50 day moving average of $130.81 and a 200 day moving average of $103.66.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm 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 6.55% and a net margin of 18.32%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,452,297 shares of company stock valued at $186,222,373. 9.23% of the stock is currently owned by corporate 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.