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

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 48.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at $33,000. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $34,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares during the period. Godsey & Gibb Inc. boosted its position in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $36,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 0.4%

Shares of NASDAQ:PLTR traded down $0.63 during midday trading on Thursday, reaching $142.50. The company had a trading volume of 64,227,973 shares, compared to its average volume of 82,994,508. The stock has a market cap of $336.29 billion, a P/E ratio of 619.57, a P/E/G ratio of 11.93 and a beta of 2.59. The company's 50 day moving average price is $129.92 and its 200 day moving average price is $102.83. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22.

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

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies 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 sale, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock valued at $186,110,685 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PLTR. Mizuho increased their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a research report on Thursday. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.