Brand Asset Management Group Inc. Sells 9,122 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Brand Asset Management Group Inc. reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,930 shares of the company's stock after selling 9,122 shares during the period. Palantir Technologies comprises 1.1% of Brand Asset Management Group Inc.'s holdings, making the stock its 22nd largest position. Brand Asset Management Group Inc.'s holdings in Palantir Technologies were worth $2,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Wealth Alliance Advisory Group LLC grew its stake in shares of Palantir Technologies by 24.8% in the first quarter. Wealth Alliance Advisory Group LLC now owns 3,930 shares of the company's stock valued at $332,000 after acquiring an additional 780 shares in the last quarter. Veracity Capital LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $480,000. Financial Management Professionals Inc. increased its holdings in shares of Palantir Technologies by 71.6% during the first quarter. Financial Management Professionals Inc. now owns 932 shares of the company's stock worth $79,000 after purchasing an additional 389 shares during the period. Teamwork Financial Advisors LLC grew its position in Palantir Technologies by 810.2% during the first quarter. Teamwork Financial Advisors LLC now owns 30,356 shares of the company's stock worth $2,562,000 after buying an additional 27,021 shares in the last quarter. Finally, Benin Management CORP increased its stake in Palantir Technologies by 10.0% during the 1st quarter. Benin Management CORP now owns 4,400 shares of the company's stock worth $371,000 after acquiring an additional 400 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $10.10 during mid-day trading on Thursday, reaching $119.91. 130,949,256 shares of the company's stock were exchanged, compared to its average volume of 79,623,426. The firm has a 50-day moving average price of $108.44 and a two-hundred day moving average price of $91.31. The firm has a market capitalization of $282.98 billion, a price-to-earnings ratio of 631.14, a price-to-earnings-growth 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 $135.28.

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

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock valued at $369,820,528 over the last 90 days. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLTR shares. Mizuho upped their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $83.95.

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.