Castle Rock Wealth Management LLC Sells 11,613 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Castle Rock Wealth Management LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,238 shares of the company's stock after selling 11,613 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Palantir Technologies were worth $2,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Palantir Technologies by 4.1% in the 1st quarter. Rhumbline Advisers now owns 4,186,489 shares of the company's stock valued at $353,340,000 after buying an additional 163,040 shares during the last quarter. Aletheian Wealth Advisors LLC purchased a new position in Palantir Technologies during the 1st quarter valued at about $205,000. Fifth Third Wealth Advisors LLC grew its holdings in Palantir Technologies by 16.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 25,930 shares of the company's stock valued at $2,188,000 after buying an additional 3,702 shares in the last quarter. Burr Financial Services LLC grew its holdings in shares of Palantir Technologies by 1.2% during the first quarter. Burr Financial Services LLC now owns 156,486 shares of the company's stock worth $13,207,000 after purchasing an additional 1,816 shares in the last quarter. Finally, Atlas Brown Inc. grew its holdings in shares of Palantir Technologies by 16.8% during the first quarter. Atlas Brown Inc. now owns 4,879 shares of the company's stock worth $412,000 after purchasing an additional 701 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLTR shares. DA Davidson boosted their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird upped their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.95.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $50,497.60. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock valued at $369,820,528 over the last ninety days. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Performance

PLTR stock traded down $3.87 during trading on Wednesday, hitting $129.30. 69,014,626 shares of the company's stock traded hands, compared to its average volume of 79,161,354. Palantir Technologies Inc. has a 52 week low of $21.04 and a 52 week high of $135.28. The business has a fifty day simple moving average of $107.55 and a 200 day simple moving average of $91.04. The stock has a market capitalization of $305.14 billion, a price-to-earnings ratio of 680.56, a P/E/G ratio of 10.84 and a beta of 2.64.

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 for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Palantir Technologies 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.