BankPlus Trust Department Sells 1,809 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

BankPlus Trust Department decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,345 shares of the company's stock after selling 1,809 shares during the period. BankPlus Trust Department's holdings in Palantir Technologies were worth $282,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sovran Advisors LLC boosted its stake in 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 boosted its position in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after acquiring an additional 99 shares during the period. Finally, Sierra Ocean LLC raised its position in Palantir Technologies by 26.6% in the first quarter. Sierra Ocean LLC now owns 523 shares of the company's stock worth $44,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PLTR shares. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report 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. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Down 0.3%

PLTR stock opened at $142.10 on Friday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The company has a market cap of $335.34 billion, a P/E ratio of 617.83, a PEG ratio of 12.16 and a beta of 2.59. The business has a fifty day moving average of $130.81 and a 200-day moving average of $103.66.

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

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 over the last three months. 9.23% of the stock is owned by 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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