Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Byrne Financial Freedom LLC

Byrne Financial Freedom LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,533 shares of the company's stock after selling 54,788 shares during the quarter. Palantir Technologies accounts for approximately 2.7% of Byrne Financial Freedom LLC's holdings, making the stock its 13th biggest position. Byrne Financial Freedom LLC's holdings in Palantir Technologies were worth $4,771,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the first quarter worth $33,000. Summit Securities Group LLC purchased a new position in Palantir Technologies in the fourth quarter worth $34,000. Atlantic Edge Private Wealth Management LLC raised its position in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Godsey & Gibb Inc. raised 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 acquiring an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Palantir Technologies in the fourth quarter worth $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 2.4%

PLTR traded up $3.42 during midday trading on Wednesday, hitting $143.13. The company's stock had a trading volume of 68,255,104 shares, compared to its average volume of 83,069,071. The firm has a market cap of $337.77 billion, a P/E ratio of 622.30, a PEG ratio of 11.93 and a beta of 2.59. The firm has a 50-day moving average price of $129.92 and a two-hundred day moving average price of $102.83. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Citigroup lifted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 34,357 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total value of $4,327,607.72. Following the completion of the sale, the insider owned 592 shares in the company, valued at $74,568.32. The trade was a 98.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the sale, the insider owned 363,755 shares of the company's stock, valued at $49,219,689.05. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,497 shares of company stock worth $186,110,685 over the last ninety days. 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.