Clare Market Investments LLC Sells 2,685 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Clare Market Investments LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,490 shares of the company's stock after selling 2,685 shares during the quarter. Palantir Technologies makes up 1.7% of Clare Market Investments LLC's portfolio, making the stock its 15th biggest holding. Clare Market Investments LLC's holdings in Palantir Technologies were worth $6,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PLTR. Mather Group LLC. raised its stake in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Sage Advisors LLC bought a new position in Palantir Technologies during the fourth quarter valued at approximately $369,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Palantir Technologies by 13.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 247,585 shares of the company's stock valued at $18,725,000 after acquiring an additional 28,534 shares in the last quarter. MGB Wealth Management LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $278,000. Finally, FFG Partners LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $4,886,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 6.5%

PLTR traded up $7.81 on Friday, hitting $127.72. 86,933,462 shares of the stock traded hands, compared to its average volume of 79,808,026. The business has a fifty day moving average price of $109.15 and a two-hundred day moving average price of $91.71. The firm has a market capitalization of $301.41 billion, a PE ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Loop Capital raised their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Citigroup raised their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. UBS Group increased their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $83.95.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,894,925 shares of company stock worth $369,820,528. Corporate insiders own 9.23% of the company's stock.

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.