Brighton Jones LLC Sells 8,676 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Brighton Jones LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,047 shares of the company's stock after selling 8,676 shares during the quarter. Brighton Jones LLC's holdings in Palantir Technologies were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Pitcairn Co. purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $281,000. L.M. Kohn & Company bought a new position in Palantir Technologies during the fourth quarter valued at approximately $550,000. KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $52,033,000. Sigma Planning Corp grew its position in Palantir Technologies by 27.1% in the 4th quarter. Sigma Planning Corp now owns 85,659 shares of the company's stock worth $6,478,000 after purchasing an additional 18,286 shares during the period. Finally, Centerpoint Advisors LLC grew its position in Palantir Technologies by 22.5% in the 4th quarter. Centerpoint Advisors LLC now owns 2,725 shares of the company's stock worth $206,000 after purchasing an additional 500 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLTR shares. Mizuho raised their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. 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. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group boosted their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $86.30.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $137.40 on Monday. The firm has a market cap of $324.25 billion, a price-to-earnings ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64. The firm has a fifty day moving average price of $115.48 and a 200 day moving average price of $95.01. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $140.08.

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

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.

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.