Fiduciary Alliance LLC Sells 6,791 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fiduciary Alliance LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,685 shares of the company's stock after selling 6,791 shares during the quarter. Palantir Technologies accounts for 1.3% of Fiduciary Alliance LLC's portfolio, making the stock its 16th largest position. Fiduciary Alliance LLC's holdings in Palantir Technologies were worth $12,887,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC bought a new position in Palantir Technologies during the fourth quarter valued at approximately $31,000. R Squared Ltd bought a new position in Palantir Technologies during the fourth quarter valued at approximately $33,000. Finally, First Command Advisory Services Inc. bought a new position in Palantir Technologies during the fourth quarter valued at approximately $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.9%

PLTR traded up $1.13 during trading on Tuesday, reaching $133.17. 90,937,653 shares of the company's stock were exchanged, compared to its average volume of 79,011,078. Palantir Technologies Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $135.22. The business has a 50 day moving average price of $106.69 and a 200 day moving average price of $90.74. The company has a market capitalization of $314.27 billion, a P/E ratio of 700.93, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company 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 earned $0.08 earnings per share. The business's revenue was up 39.4% on a year-over-year basis. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction 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 transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,901,701 shares of company stock valued at $370,407,533. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Loop Capital raised their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.95.

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.