Cyndeo Wealth Partners LLC Reduces Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Cyndeo Wealth Partners LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 41.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,869 shares of the company's stock after selling 70,352 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Palantir Technologies were worth $8,345,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLTR. Assenagon Asset Management S.A. boosted its position in shares of Palantir Technologies by 15.0% in the 1st 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. bought a new stake in Palantir Technologies in the fourth quarter worth $281,000. L.M. Kohn & Company bought a new stake in Palantir Technologies in the fourth quarter worth $550,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $52,033,000. Finally, Sigma Planning Corp increased its holdings in shares of Palantir Technologies by 27.1% during the fourth quarter. Sigma Planning Corp now owns 85,659 shares of the company's stock valued at $6,478,000 after acquiring an additional 18,286 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR traded up $4.01 during trading on Monday, reaching $141.41. 80,082,439 shares of the company traded hands, compared to its average volume of 81,013,778. The company has a market cap of $333.72 billion, a P/E ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.74. The firm has a fifty day simple moving average of $115.48 and a 200 day simple moving average of $95.01.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the company posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. DA Davidson increased their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, UBS Group lifted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $86.30.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Insiders own 9.23% of the company's stock.

Palantir Technologies 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.