Enzi Wealth Decreases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Enzi Wealth reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 44.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,159 shares of the company's stock after selling 9,558 shares during the period. Palantir Technologies makes up 0.4% of Enzi Wealth's portfolio, making the stock its 25th largest holding. Enzi Wealth's holdings in Palantir Technologies were worth $1,026,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PLTR. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter worth $1,360,191,000. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new position in Palantir Technologies during the 4th quarter valued at about $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm'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 directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Buckley sold 1,708 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $215,874.12. Following the transaction, the insider now directly owns 34,468 shares in the company, valued at approximately $4,356,410.52. The trade was a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,408,748 shares of company stock valued at $180,327,603 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Mizuho raised their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley lifted their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. 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 company's stock. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $130.74 on Monday. The company has a market cap of $308.53 billion, a PE ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. The firm's 50 day moving average price is $125.24 and its 200-day moving average price is $99.81. 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 announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for 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 business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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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