Byrne Financial Freedom LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Byrne Financial Freedom LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,533 shares of the company's stock after selling 54,788 shares during the period. Palantir Technologies makes up about 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at $33,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $34,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Godsey & Gibb Inc. boosted its stake in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $36,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush restated an "outperform" rating on shares of Palantir Technologies in a report on Thursday. Citigroup upped their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $89.32.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated 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 transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is owned by company insiders.

Palantir Technologies Trading Down 0.4%

PLTR traded down $0.63 on Thursday, reaching $142.50. The stock had a trading volume of 64,186,909 shares, compared to its average volume of 82,993,977. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The business's 50-day moving average price is $129.92 and its two-hundred day moving average price is $102.83. The company has a market cap of $336.29 billion, a P/E ratio of 619.57, a price-to-earnings-growth ratio of 11.93 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. 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. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

About Palantir Technologies

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.