Bfsg LLC Sells 51,132 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Bfsg LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 50.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,800 shares of the company's stock after selling 51,132 shares during the quarter. Bfsg LLC's holdings in Palantir Technologies were worth $4,203,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $31,000. First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $34,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTR. Citigroup increased their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho raised their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $86.30.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $141.41 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The firm has a market capitalization of $333.72 billion, a price-to-earnings ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64. The stock's 50-day simple moving average is $116.76 and its 200-day simple moving average is $95.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now owns 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. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last three months. 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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.