Financially Speaking Inc Reduces Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Financially Speaking Inc reduced its stake in Palantir Technologies by 40.5% in the first quarter, now holding 7,580 shares valued at approximately $640,000.
• Insider Shyam Sankar sold 405,000 shares of Palantir stock at about $132.08 per share, reducing his ownership by 36.56%.
• Palantir's stock has seen a substantial price range this year, with a 52-week low of $21.23 and a high of $160.39.

Financially Speaking Inc lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,580 shares of the company's stock after selling 5,165 shares during the quarter. Palantir Technologies accounts for 0.5% of Financially Speaking Inc's investment portfolio, making the stock its 11th biggest position. Financially Speaking Inc's holdings in Palantir Technologies were worth $640,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. FMR LLC increased its holdings in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after buying an additional 187,860 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

NASDAQ:PLTR traded down $0.16 during trading hours on Thursday, reaching $158.45. The company had a trading volume of 33,622,350 shares, compared to its average volume of 92,677,438. The firm has a market cap of $373.93 billion, a PE ratio of 689.72, a price-to-earnings-growth ratio of 13.32 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.89. The business's 50 day moving average price is $139.03 and its 200-day moving average price is $110.71.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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 company had revenue of $883.86 million during 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 firm's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday, July 10th. Loop Capital increased their target price on Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their target price for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $96.45.

Insider Buying and Selling

In related news, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director directly owned 62,887 shares in the company, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 over the last quarter. Corporate insiders own 9.23% of the company's stock.

About Palantir Technologies

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.