Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by AXS Investments LLC

Key Points

• AXS Investments LLC reduced its holdings in Palantir Technologies by 5.2%, now owning 29,151 shares valued at $2.46 million after selling 1,586 shares in the first quarter.
• Insider Alexander C. Karp sold 39,825 shares of Palantir at an average price of $125.97, decreasing his ownership by 0.62% while still retaining over 6.4 million shares valued at approximately $810 million.
• Palantir Technologies announced quarterly earnings with a net profit of $1 billion, surpassing revenue estimates by 48% compared to the previous year.

AXS Investments LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,151 shares of the company's stock after selling 1,586 shares during the period. AXS Investments LLC's holdings in Palantir Technologies were worth $2,460,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Allegiance Financial Group Advisory Services LLC raised its stake in Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the last quarter. Sovran Advisors LLC grew its holdings in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares in the last quarter. Lodestone Wealth Management LLC raised its position in shares of Palantir Technologies by 1.1% in the first 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 lifted its stake in shares of Palantir Technologies by 3.8% during the fourth 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 period. Finally, Kathmere Capital Management LLC boosted its position in Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. 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 over the last quarter. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $2.66 during midday trading on Thursday, hitting $182.20. 77,586,531 shares of the company were exchanged, compared to its average volume of 60,547,432. The company has a market cap of $429.98 billion, a PE ratio of 607.35, a price-to-earnings-growth ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $26.69 and a fifty-two week high of $184.48. The company's fifty day moving average price is $144.43 and its 200-day moving average price is $114.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the stock from $80.00 to $160.00 in a research note on Tuesday. UBS Group reiterated a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday. The Goldman Sachs Group increased their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday. Finally, Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $136.61.

Palantir Technologies 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.