Golden State Equity Partners Has $1.41 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Golden State Equity Partners cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,684 shares of the company's stock after selling 4,068 shares during the period. Golden State Equity Partners' holdings in Palantir Technologies were worth $1,408,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares during the period. Pitcairn Co. acquired a new stake in Palantir Technologies in the 4th quarter valued at $281,000. Sagespring Wealth Partners LLC grew its position in Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Palantir Technologies in the 4th quarter valued at $52,033,000. Finally, CX Institutional acquired a new position in shares of Palantir Technologies during the first quarter valued at about $62,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $143.23 on Wednesday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86. The business's fifty day moving average price is $122.49 and its 200-day moving average price is $98.22. The stock has a market capitalization of $338.01 billion, a PE ratio of 622.74, a P/E/G ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm'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 in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This represents a 19.58% 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. Company insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLTR. UBS Group lifted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Mizuho lifted their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Finally, Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.32.

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.

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