Generali Investments Management Co LLC Decreases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Generali Investments Management Co LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 69.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,132 shares of the company's stock after selling 43,553 shares during the quarter. Generali Investments Management Co LLC's holdings in Palantir Technologies were worth $1,615,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Continuum Advisory LLC increased its position in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA increased its position in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the last quarter. True Wealth Design LLC increased its position in Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Westover Capital Advisors LLC increased its position in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its position in Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock worth $493,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now directly owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock valued at $369,820,528 over the last three months. 9.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLTR shares. DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa Capital Markets started 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. Finally, Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Up 6.5%

Shares of NASDAQ PLTR traded up $7.81 during mid-day trading on Friday, reaching $127.72. The company had a trading volume of 86,933,462 shares, compared to its average volume of 79,886,273. The business's 50-day moving average is $109.15 and its 200-day moving average is $91.71. The stock has a market cap of $301.41 billion, a price-to-earnings ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28.

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