Cambridge Investment Research Advisors Inc. Sells 50,655 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Cambridge Investment Research Advisors Inc. reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,228,336 shares of the company's stock after selling 50,655 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.05% of Palantir Technologies worth $103,672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Continuum Advisory LLC lifted its holdings in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after buying an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA grew its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC grew its position in shares of Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Gemmer Asset Management LLC grew its position in shares of Palantir Technologies by 1.6% during the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after purchasing an additional 119 shares in the last quarter. Finally, Synergy Asset Management LLC grew its position in shares of Palantir Technologies by 1.7% during the 1st quarter. Synergy Asset Management LLC now owns 7,017 shares of the company's stock valued at $592,000 after purchasing an additional 120 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on 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 sale, the insider now owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PLTR. DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. 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. Morgan Stanley upped their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $137.30 on Friday. The firm has a market cap of $324.02 billion, a PE ratio of 596.96, a price-to-earnings-growth ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The business has a 50 day moving average price of $120.65 and a 200-day moving average price of $97.28.

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. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS 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.

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