Palantir Technologies Inc. (NASDAQ:PLTR) Position Trimmed by CapWealth Advisors LLC

CapWealth Advisors LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,133 shares of the company's stock after selling 100,440 shares during the quarter. Palantir Technologies makes up 3.8% of CapWealth Advisors LLC's portfolio, making the stock its 3rd largest position. CapWealth Advisors LLC's holdings in Palantir Technologies were worth $35,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after buying an additional 6,479 shares in the last quarter. Pitcairn Co. bought a new stake in Palantir Technologies during the 4th quarter valued at about $281,000. Sagespring Wealth Partners LLC lifted its holdings in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Palantir Technologies during the 4th quarter valued at about $52,033,000. Finally, CX Institutional bought a new stake in Palantir Technologies during the 1st quarter valued at about $62,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley raised their target price 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. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $89.32.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock worth $186,222,373 in the last 90 days. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Down 0.3%

Shares of Palantir Technologies stock traded down $0.40 on Friday, reaching $142.10. The stock had a trading volume of 52,005,962 shares, compared to its average volume of 83,116,242. The company has a 50 day moving average price of $130.81 and a 200 day moving average price of $103.66. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22. The stock has a market capitalization of $335.34 billion, a P/E ratio of 617.83, a P/E/G ratio of 12.16 and a beta of 2.59.

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