Carmel Capital Partners LLC Has $11.28 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Carmel Capital Partners LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,673 shares of the company's stock after selling 54,884 shares during the quarter. Palantir Technologies comprises about 4.4% of Carmel Capital Partners LLC's portfolio, making the stock its 4th largest position. Carmel Capital Partners LLC's holdings in Palantir Technologies were worth $11,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the 1st quarter worth approximately $25,000. Richardson Capital Management LLC acquired a new stake in Palantir Technologies during the 1st quarter worth $33,000. Cornerstone Planning Group LLC boosted its stake in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $34,000. Finally, Atlantic Edge Private Wealth Management LLC lifted 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 valued at $34,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were 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 owned 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. 9.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLTR. Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Wedbush set a $160.00 price target on Palantir Technologies in a research report on Thursday, July 10th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $91.37.

Palantir Technologies Trading Down 0.3%

Shares of PLTR stock opened at $153.52 on Friday. The firm's 50 day moving average is $134.33 and its 200 day moving average is $106.36. The stock has a market capitalization of $362.29 billion, a P/E ratio of 667.48, a P/E/G ratio of 13.11 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. As a group, equities 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.

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