Blair William & Co. IL Sells 2,034 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Blair William & Co. IL reduced its stake in Palantir Technologies by 2.8% in the first quarter, holding 69,395 shares after selling 2,034 shares, valued at approximately $5.86 million.
• Several institutional investors significantly increased their holdings in Palantir, with notable increases, including CBIZ Investment Advisory Services LLC growing its position by 118.5%.
• Analysts have raised their price targets for Palantir, with Goldman Sachs setting a target of $141.00 and Bank of America increasing theirs to $180.00, reflecting a generally positive outlook on the stock.

Blair William & Co. IL reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,395 shares of the company's stock after selling 2,034 shares during the period. Blair William & Co. IL's holdings in Palantir Technologies were worth $5,857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in Palantir Technologies by 15.0% in the 1st 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. bought a new position in shares of Palantir Technologies in the first quarter valued at approximately $45,000. Menard Financial Group LLC lifted its stake in Palantir Technologies by 8.2% during the 1st 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. boosted its holdings in Palantir Technologies by 14.5% during the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after acquiring an additional 4,068 shares during the last quarter. Finally, Sagespring Wealth Partners LLC grew its stake in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm's 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 transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 30,000 shares of Palantir Technologies stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider directly owned 363,755 shares in the company, valued at approximately $63,657,125. The trade was a 7.62% decrease in their ownership of the stock. 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 three months. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price target for the company from $80.00 to $160.00 in a research report on Tuesday. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday. Royal Bank Of Canada upped their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday. Finally, Bank of America boosted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research 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's stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

PLTR stock traded up $4.76 during mid-day trading on Friday, hitting $186.96. 62,386,781 shares of the stock were exchanged, compared to its average volume of 92,380,180. The stock has a market capitalization of $441.21 billion, a price-to-earnings ratio of 623.22, a PEG ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $29.10 and a 12 month high of $187.99. The business has a fifty day moving average price of $144.43 and a 200 day moving average price of $114.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the company earned $0.09 EPS. The firm's revenue was up 48.0% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.