Commonwealth Equity Services LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,571,354 shares of the company's stock after selling 25,847 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Palantir Technologies worth $132,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Northern Trust Corp raised its holdings in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. FMR LLC grew its position in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Invesco Ltd. grew its position in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Bank of New York Mellon Corp grew its position in Palantir Technologies by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after acquiring an additional 187,860 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Palantir Technologies by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,532,241 shares of the company's stock worth $796,553,000 after acquiring an additional 344,127 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Palantir Technologies
In other news, insider David A. Glazer sold 30,812 shares of the company's 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 sale, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. This represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's 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 $39,142,477.44. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 over the last quarter. Corporate insiders own 9.23% of the company's stock.
Palantir Technologies Price Performance
PLTR opened at $154.27 on Friday. The firm's fifty day moving average price is $140.37 and its two-hundred day moving average price is $112.27. The company has a market capitalization of $364.06 billion, a price-to-earnings ratio of 670.74, a P/E/G ratio of 13.15 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $160.89.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm 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 earnings per share. The company's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PLTR. DA Davidson raised their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $96.45.
Check Out Our Latest Stock Analysis on Palantir Technologies
Palantir Technologies Profile
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

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.
Before you consider Palantir Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.
While Palantir Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report