Berkshire Capital Holdings Inc. Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Berkshire Capital Holdings Inc. has decreased its stake in Palantir Technologies by 2.0%, owning 123,230 shares valued at approximately $10.4 million, which represents 5.0% of its portfolio.
• Insider selling activity includes Ryan D. Taylor and David A. Glazer, who sold 30,000 and 3,418 shares, respectively, indicating a trend of insiders divesting from the company.
• Palantir Technologies has recently received various ratings from analysts, with a consensus target price of $136.61 and a mix of "hold," "buy," and "sell" ratings among the analysts.

Berkshire Capital Holdings Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,230 shares of the company's stock after selling 2,550 shares during the period. Palantir Technologies accounts for 5.0% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 7th largest holding. Berkshire Capital Holdings Inc.'s holdings in Palantir Technologies were worth $10,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new position in Palantir Technologies during the first quarter valued at $45,000. Menard Financial Group LLC grew its stake in Palantir Technologies by 8.2% during the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after acquiring an additional 1,964 shares in the last quarter. TCW Group Inc. grew its stake in Palantir Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after acquiring an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its stake in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after acquiring an additional 6,405 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 30,000 shares of Palantir Technologies stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at $63,657,125. This trade represents a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock worth $196,472,623 over the last ninety days. 9.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Citigroup reaffirmed a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Trading Down 2.1%

PLTR stock opened at $177.17 on Friday. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The company has a 50-day moving average price of $151.03 and a 200 day moving average price of $119.48. The stock has a market cap of $418.11 billion, a PE ratio of 590.59, a P/E/G ratio of 9.99 and a beta of 2.60.

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

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.

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