BNC Wealth Management LLC Sells 10,407 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

BNC Wealth Management LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,348 shares of the company's stock after selling 10,407 shares during the quarter. Palantir Technologies accounts for about 1.9% of BNC Wealth Management LLC's holdings, making the stock its 14th largest position. BNC Wealth Management LLC's holdings in Palantir Technologies were worth $5,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after buying an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies in the fourth quarter worth $31,000. Godsey & Gibb Inc. increased its position in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the fourth quarter worth $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 1.6%

NASDAQ:PLTR traded up $2.21 during trading hours on Friday, hitting $137.40. 93,318,005 shares of the company's stock traded hands, compared to its average volume of 81,017,198. The firm has a market cap of $324.25 billion, a P/E ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $140.00. The business's fifty day simple moving average is $115.48 and its two-hundred day simple moving average is $94.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during 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%. The firm's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies 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 completion of the sale, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $51,545.44. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,816,925 shares of company stock valued at $215,448,358. Company insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. Mizuho raised their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday. Loop Capital raised their target price on Palantir Technologies from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Morgan Stanley raised their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $86.30.

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.