Fielder Capital Group LLC Sells 5,860 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Fielder Capital Group LLC has reduced its stake in Palantir Technologies Inc. by 14.2%, selling 5,860 shares, leaving them with 35,383 shares worth approximately $2,986,000.
• Palantir's quarterly earnings showed a net margin of 18.32%, with revenue of $883.86 million, exceeding analyst expectations of $863.89 million.
• Insiders at Palantir have sold a total of 1,485,632 shares worth about $191.2 million in the last 90 days, while insiders currently own 12.93% of the company's stock.

Fielder Capital Group LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,383 shares of the company's stock after selling 5,860 shares during the period. Fielder Capital Group LLC's holdings in Palantir Technologies were worth $2,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its stake 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 valued at $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Capital World Investors purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $253,816,000. Finally, Northern Trust Corp lifted its stake in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 2.5%

Shares of NASDAQ PLTR opened at $158.80 on Monday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.39. The firm has a market cap of $374.75 billion, a P/E ratio of 690.43, a PEG ratio of 13.54 and a beta of 2.59. The company has a 50 day moving average of $137.03 and a 200 day moving average of $109.42.

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 for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the business earned $0.08 EPS. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock worth $191,222,623 in the last 90 days. Insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Wedbush set a $160.00 target price on Palantir Technologies in a research note on Thursday, July 10th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $95.30.

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.

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