Clearwater Capital Advisors LLC Trims Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Clearwater Capital Advisors LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,073 shares of the company's stock after selling 1,696 shares during the quarter. Clearwater Capital Advisors LLC's holdings in Palantir Technologies were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. purchased a new stake in Palantir Technologies in the first quarter worth about $45,000. Menard Financial Group LLC grew its holdings in Palantir Technologies by 8.2% in the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after purchasing an additional 1,964 shares during the period. Pitcairn Co. purchased a new stake in Palantir Technologies in the fourth quarter worth about $281,000. Finally, TCW Group Inc. grew its holdings in Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after purchasing an additional 4,068 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 2.6%

Shares of Palantir Technologies stock opened at $154.27 on Friday. The company has a market cap of $364.06 billion, a price-to-earnings ratio of 670.74, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60. The company's 50 day moving average is $140.37 and its 200 day moving average is $111.96. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89.

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, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares in the company, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last quarter. 9.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday, July 10th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup increased their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Piper Sandler assumed coverage on shares of Palantir Technologies in a report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target on the stock. Finally, Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.45.

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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