Cvfg LLC Decreases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cvfg LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,105 shares of the company's stock after selling 1,962 shares during the quarter. Cvfg LLC's holdings in Palantir Technologies were worth $262,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in Palantir Technologies by 15.0% during 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 in the last quarter. Pitcairn Co. purchased a new stake in Palantir Technologies during the fourth quarter worth $281,000. Sagespring Wealth Partners LLC boosted its position in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after purchasing an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies during the fourth quarter worth $52,033,000. Finally, CX Institutional purchased a new stake in Palantir Technologies during the first quarter worth $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 in the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $143.23 on Wednesday. The stock's 50-day moving average is $122.49 and its 200-day moving average is $98.22. The company has a market cap of $338.01 billion, a price-to-earnings ratio of 622.74, a price-to-earnings-growth ratio of 11.94 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting 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 return on equity of 6.55% and a net margin of 18.32%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the business posted $0.08 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.32.

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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