CCG Wealth Management LLC Cuts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

CCG Wealth Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,627 shares of the company's stock after selling 1,874 shares during the period. CCG Wealth Management LLC's holdings in Palantir Technologies were worth $306,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. purchased a new position in Palantir Technologies during the 4th quarter valued at about $34,000. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $34,000. Fairfield Financial Advisors LTD purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $35,000. Godsey & Gibb Inc. grew its position in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.9%

Shares of NASDAQ PLTR opened at $137.30 on Friday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $144.86. The company has a 50 day simple moving average of $120.65 and a two-hundred day simple moving average of $97.09. The stock has a market cap of $324.02 billion, a price-to-earnings ratio of 596.96, a PEG ratio of 11.95 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the business posted $0.08 EPS. The business's quarterly revenue was up 39.4% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the business'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 transaction, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 in the last three months. Company insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLTR shares. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. UBS Group lifted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five research 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 company has an average rating of "Hold" and a consensus price target of $89.32.

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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