Dakota Wealth Management Sells 34,394 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Dakota Wealth Management cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,513 shares of the company's stock after selling 34,394 shares during the quarter. Dakota Wealth Management's holdings in Palantir Technologies were worth $2,491,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter worth about $33,000. Cornerstone Planning Group LLC boosted its position in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the period. Finally, Godsey & Gibb Inc. raised its holdings in Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after acquiring an additional 370 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 1.6%

Shares of Palantir Technologies stock traded up $2.33 during trading hours on Wednesday, reaching $150.91. 57,528,091 shares of the company's stock were exchanged, compared to its average volume of 83,257,472. The company has a fifty day moving average of $132.11 and a 200-day moving average of $104.76. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $151.41. The firm has a market capitalization of $356.13 billion, a price-to-earnings ratio of 656.13, a price-to-earnings-growth ratio of 12.73 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The business's quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the sale, the insider directly owned 363,755 shares of the company's stock, valued at $49,219,689.05. This trade represents a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,452,297 shares of company stock worth $186,222,373. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their target price for the company from $116.00 to $135.00 in a research note on Wednesday. Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $91.37.

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.