DMC Group LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

DMC Group LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,141 shares of the company's stock after selling 2,339 shares during the quarter. Palantir Technologies accounts for approximately 1.8% of DMC Group LLC's holdings, making the stock its 9th biggest position. DMC Group LLC's holdings in Palantir Technologies were worth $2,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in Palantir Technologies by 90.2% in 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 in the last quarter. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $33,000. Atlantic Edge Private Wealth Management LLC boosted its stake 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 worth $34,000 after acquiring an additional 125 shares in the last quarter. Godsey & Gibb Inc. boosted its stake 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 acquiring an additional 370 shares in the last quarter. Finally, Arlington Trust Co LLC boosted its stake in shares of Palantir Technologies by 542.9% during the 1st quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of the company'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 value of $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $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 accessible through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% 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 currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLTR. Loop Capital set a $155.00 price target on Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley upped their price target 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. Finally, Wedbush reissued an "outperform" rating on shares of Palantir Technologies in a research report on Thursday. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Down 0.4%

Palantir Technologies stock traded down $0.63 during trading hours on Thursday, hitting $142.50. The stock had a trading volume of 64,227,973 shares, compared to its average volume of 83,153,909. The company has a 50-day moving average of $129.92 and a two-hundred day moving average of $102.83. The company has a market cap of $336.29 billion, a PE ratio of 1,192.75, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

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

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.