Bristlecone Advisors LLC Has $8.36 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Bristlecone Advisors LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,062 shares of the company's stock after selling 19,875 shares during the period. Bristlecone Advisors LLC's holdings in Palantir Technologies were worth $8,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp boosted its position in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Bank of New York Mellon Corp raised its position in Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after purchasing an additional 187,860 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Palantir Technologies by 3.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,532,241 shares of the company's stock worth $796,553,000 after purchasing an additional 344,127 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 1.5%

PLTR opened at $182.20 on Friday. The stock has a market cap of $429.98 billion, a price-to-earnings ratio of 607.35, a PEG ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $26.69 and a twelve month high of $184.48. The company's 50-day moving average price is $144.43 and its two-hundred day moving average price is $114.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. Citigroup reissued a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday. Bank of America lifted their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday. Finally, DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $136.61.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider owned 363,755 shares of the company's stock, valued at $63,657,125. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. Corporate insiders own 9.23% of the company's stock.

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.

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