DekaBank Deutsche Girozentrale Sells 215,225 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

DekaBank Deutsche Girozentrale cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 48.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,664 shares of the company's stock after selling 215,225 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Palantir Technologies were worth $18,359,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $33,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $34,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Godsey & Gibb Inc. increased its stake 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 buying an additional 370 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Palantir Technologies in the fourth quarter worth $36,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLTR shares. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $1.04 during midday trading on Friday, reaching $143.54. 36,693,910 shares of the company were exchanged, compared to its average volume of 96,961,055. The company has a market capitalization of $338.74 billion, a price-to-earnings ratio of 624.09, a P/E/G ratio of 12.22 and a beta of 2.59. The firm's 50-day simple moving average is $130.45 and its 200-day simple moving average is $103.25. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.21.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the company posted $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the transaction, the insider directly owned 363,755 shares in the company, valued at $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,451,497 shares of company stock worth $186,110,685. 9.23% of the stock is owned by company insiders.

About Palantir Technologies

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.