EdgeRock Capital LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

EdgeRock Capital LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 66.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,567 shares of the company's stock after selling 9,004 shares during the quarter. EdgeRock Capital LLC's holdings in Palantir Technologies were worth $385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sage Advisors LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at $369,000. MGB Wealth Management LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at $278,000. Asset Planning Inc purchased a new stake in Palantir Technologies during the 4th quarter valued at $101,000. WealthPlan Investment Management LLC raised its holdings in Palantir Technologies by 145.2% during the 4th quarter. WealthPlan Investment Management LLC now owns 35,805 shares of the company's stock valued at $2,708,000 after buying an additional 21,204 shares during the period. Finally, Pitcairn Co. purchased a new stake in Palantir Technologies during the 4th quarter valued at $281,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLTR shares. Mizuho increased their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday. Morgan Stanley increased their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Loop Capital increased their target price on Palantir Technologies from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group increased their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average price target of $86.30.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies 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 $45,371,734.98. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,816,925 shares of company stock worth $215,448,358 over the last three months. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $2.21 during trading on Friday, hitting $137.40. The company's stock had a trading volume of 93,318,005 shares, compared to its average volume of 81,017,198. The company has a market cap of $324.25 billion, a PE ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64. The business's 50 day simple moving average is $115.48 and its 200-day simple moving average is $94.81. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $140.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the business posted $0.08 earnings per share. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. Analysts expect 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.