Colonial River Investments LLC Sells 3,556 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Colonial River Investments LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,980 shares of the company's stock after selling 3,556 shares during the period. Palantir Technologies comprises 1.0% of Colonial River Investments LLC's portfolio, making the stock its 21st largest holding. Colonial River Investments LLC's holdings in Palantir Technologies were worth $1,855,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated 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 in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $130.74 on Friday. The stock has a market capitalization of $308.53 billion, a P/E ratio of 568.43, a P/E/G ratio of 12.31 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The company's 50-day simple moving average is $125.24 and its 200-day simple moving average is $99.44.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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 business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company's revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.