Cherry Creek Investment Advisors Inc. Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Cherry Creek Investment Advisors Inc. lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,013 shares of the company's stock after selling 33,680 shares during the quarter. Palantir Technologies comprises approximately 2.1% of Cherry Creek Investment Advisors Inc.'s portfolio, making the stock its 13th largest position. Cherry Creek Investment Advisors Inc.'s holdings in Palantir Technologies were worth $3,968,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's 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 completion of the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the company'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. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $2.66 during trading hours on Friday, reaching $137.30. The stock had a trading volume of 86,915,690 shares, compared to its average volume of 81,223,390. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $144.86. The firm's 50 day moving average is $120.65 and its 200-day moving average is $97.28. The stock has a market capitalization of $324.02 billion, a price-to-earnings ratio of 596.96, a P/E/G ratio of 11.72 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 analysts' consensus estimates 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 company'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.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PLTR shares. Morgan Stanley upped 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. Mizuho upped their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $89.32.

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.