Palantir Technologies Inc. (NASDAQ:PLTR) Position Reduced by DMC Group LLC

DMC Group LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,141 shares of the company's stock after selling 2,339 shares during the period. Palantir Technologies makes up 1.8% of DMC Group LLC's holdings, making the stock its 9th biggest holding. DMC Group LLC's holdings in Palantir Technologies were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $281,000. Sagespring Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $52,033,000. Finally, CX Institutional acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $62,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $0.05 during trading hours on Friday, reaching $142.55. 41,798,781 shares of the stock were exchanged, compared to its average volume of 82,997,503. The stock has a market cap of $336.41 billion, a P/E ratio of 619.78, a P/E/G ratio of 12.22 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The firm's 50 day moving average is $130.45 and its 200 day moving average is $103.25.

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 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The business's revenue for the quarter was up 39.4% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the sale, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,451,497 shares of company stock worth $186,110,685. Company insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Mizuho upped their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, Citigroup upped their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.