Bay Colony Advisory Group Inc d b a Bay Colony Advisors Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,548 shares of the company's stock after selling 3,447 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors' holdings in Palantir Technologies were worth $734,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PLTR. First Command Advisory Services Inc. acquired a new stake in Palantir Technologies in the 4th quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $34,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $35,000. Godsey & Gibb Inc. increased its holdings in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Palantir Technologies during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Mizuho boosted their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Finally, DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Up 1.3%

Shares of PLTR stock opened at $139.96 on Friday. The firm has a 50 day moving average of $119.67 and a two-hundred day moving average of $96.64. The stock has a market capitalization of $330.29 billion, a PE ratio of 608.52, a P/E/G ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86.

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, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the business posted $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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 shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares of the company's stock, valued at $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 is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on 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 sale, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Company insiders own 9.23% of the company's stock.

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.

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