Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,768 shares of the company's stock after selling 2,666 shares during the period. First Hawaiian Bank's holdings in Palantir Technologies were worth $1,078,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PLTR. Tallon Kerry Patrick bought a new position in shares of Palantir Technologies during the 4th quarter worth $289,000. Union Bancaire Privee UBP SA bought a new position in Palantir Technologies during the 4th quarter worth about $15,177,000. Revolve Wealth Partners LLC bought a new position in Palantir Technologies during the 4th quarter worth about $450,000. R Squared Ltd bought a new position in Palantir Technologies during the 4th quarter worth about $33,000. Finally, Hantz Financial Services Inc. grew its holdings in Palantir Technologies by 37.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,555 shares of the company's stock worth $269,000 after acquiring an additional 970 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 3,936 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the transaction, the insider now owns 363,755 shares of the company's stock, valued at $45,822,217.35. The trade was a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey Buckley sold 1,708 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $215,874.12. Following the completion of the transaction, the insider now directly owns 34,468 shares of the company's stock, valued at $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 sold 3,901,701 shares of company stock worth $370,407,533 over the last three months. Company insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Loop Capital increased their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. DA Davidson raised their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Price Performance

PLTR traded up $4.31 on Friday, reaching $126.63. 185,234,367 shares of the stock were exchanged, compared to its average volume of 78,904,928. Palantir Technologies Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $133.49. The firm has a market capitalization of $298.84 billion, a PE ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68. The company's 50-day moving average price is $105.90 and its 200 day moving average price is $89.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the business posted $0.08 EPS. The business's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.