CWA Asset Management Group LLC Sells 173,399 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

CWA Asset Management Group LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 50.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,312 shares of the company's stock after selling 173,399 shares during the quarter. Palantir Technologies comprises 0.7% of CWA Asset Management Group LLC's investment portfolio, making the stock its 29th largest holding. CWA Asset Management Group LLC's holdings in Palantir Technologies were worth $14,374,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PLTR. Geode Capital Management LLC increased its stake in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp grew its holdings in shares of Palantir Technologies by 20.4% during 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 in the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC increased its position in shares of Palantir Technologies by 22.6% during 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 during the period. Finally, Invesco Ltd. raised its stake 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. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 1.3%

PLTR traded up $1.76 during trading on Wednesday, hitting $139.96. The company's stock had a trading volume of 58,100,428 shares, compared to its average volume of 80,990,517. The stock has a market capitalization of $330.29 billion, a price-to-earnings ratio of 608.52, a price-to-earnings-growth ratio of 11.93 and a beta of 2.64. The firm's 50 day moving average price is $117.68 and its two-hundred day moving average price is $95.83. 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 results 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 during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction 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 transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Citigroup lifted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Cantor Fitzgerald increased their price target on shares of 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 restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, DA Davidson lifted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.