GFS Advisors LLC Sells 48,080 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

GFS Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 51.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,590 shares of the company's stock after selling 48,080 shares during the period. GFS Advisors LLC's holdings in Palantir Technologies were worth $3,848,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $31,000. Godsey & Gibb Inc. increased its holdings in Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $34,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $34,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $35,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLTR shares. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho boosted their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five investment 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 MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $2.66 during mid-day trading on Friday, hitting $137.30. 86,915,690 shares of the company's stock traded hands, compared to its average volume of 81,223,390. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The stock has a market cap of $324.02 billion, a price-to-earnings ratio of 596.96, a P/E/G ratio of 11.72 and a beta of 2.64. The firm has a 50 day simple moving average of $120.65 and a two-hundred day simple moving average of $97.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. 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 firm earned $0.08 EPS. The business's revenue was up 39.4% on a year-over-year basis. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was 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 $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Insiders own 9.23% of the company's stock.

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.