Palantir Technologies Inc. (NASDAQ:PLTR) Stake Reduced by Cypress Point Wealth Management LLC

Cypress Point Wealth Management LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,229,192 shares of the company's stock after selling 274,311 shares during the quarter. Palantir Technologies comprises approximately 32.9% of Cypress Point Wealth Management LLC's investment portfolio, making the stock its largest holding. Cypress Point Wealth Management LLC owned 0.05% of Palantir Technologies worth $103,744,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PLTR. Continuum Advisory LLC lifted its holdings in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the period. Heritage Wealth Management Inc. CA increased its holdings in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares during the period. Gemmer Asset Management LLC boosted its holdings in Palantir Technologies by 1.6% during the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock worth $639,000 after buying an additional 119 shares in the last quarter. Finally, Westover Capital Advisors LLC boosted its holdings in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after buying an additional 130 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. Loop Capital lifted their price objective on shares of Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Mizuho increased their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday. UBS Group raised their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley upped their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $86.30.

Palantir Technologies Trading Up 1.6%

PLTR traded up $2.21 on Friday, hitting $137.40. 93,318,005 shares of the company's stock were exchanged, compared to its average volume of 80,799,506. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $140.00. The stock has a market cap of $324.25 billion, a price-to-earnings ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64. The firm has a 50-day moving average price of $115.48 and a 200-day moving average price of $94.61.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the business posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies 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 in the company, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Buckley sold 1,708 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the transaction, the insider now directly owns 34,468 shares in the company, valued at approximately $4,356,410.52. The trade was a 4.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,816,925 shares of company stock worth $215,448,358 in the last ninety days. 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.