Donoghue Forlines LLC Sells 2,541 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Donoghue Forlines LLC has reduced its stake in Palantir Technologies by 8.6%, selling 2,541 shares and now holds a total of 26,920 shares valued at $2,272,000.
• Palantir reported $1 billion in revenue for the quarter, exceeding estimates and achieving a 48% year-over-year increase, with an earnings per share of $0.16.
• Several research firms have adjusted their price targets for Palantir, with Royal Bank of Canada raising its target from $40.00 to $45.00 while Morgan Stanley set a target at $155.00.

Donoghue Forlines LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,920 shares of the company's stock after selling 2,541 shares during the quarter. Donoghue Forlines LLC's holdings in Palantir Technologies were worth $2,272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Zions Bancorporation National Association UT bought a new position in Palantir Technologies in the 1st quarter worth $345,000. Townsquare Capital LLC grew its position in shares of Palantir Technologies by 60.5% in the 1st quarter. Townsquare Capital LLC now owns 78,902 shares of the company's stock worth $6,659,000 after buying an additional 29,745 shares during the period. Sloy Dahl & Holst LLC grew its position in shares of Palantir Technologies by 9.0% in the 1st quarter. Sloy Dahl & Holst LLC now owns 131,940 shares of the company's stock worth $11,136,000 after buying an additional 10,909 shares during the period. Founders Financial Alliance LLC grew its position in shares of Palantir Technologies by 41.5% in the 1st quarter. Founders Financial Alliance LLC now owns 3,846 shares of the company's stock worth $325,000 after buying an additional 1,128 shares during the period. Finally, Forsta AP Fonden grew its position in shares of Palantir Technologies by 3.2% in the 1st quarter. Forsta AP Fonden now owns 550,900 shares of the company's stock worth $46,496,000 after buying an additional 17,000 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 2.6%

Shares of NASDAQ PLTR opened at $186.96 on Friday. The firm's 50-day moving average price is $145.64 and its 200-day moving average price is $115.61. The company has a market cap of $441.21 billion, a PE ratio of 623.22, a PEG ratio of 11.57 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. The business's quarterly revenue was up 48.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Royal Bank Of Canada upped their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, UBS Group reaffirmed a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $136.61.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director owned 2,348 shares of the company's stock, valued at $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. Insiders sold a total of 1,515,632 shares of company stock valued at $196,472,623 in the last three months. Corporate insiders own 9.23% of the company's stock.

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.

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