Great Valley Advisor Group Inc. Sells 39,844 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Great Valley Advisor Group Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 45.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,398 shares of the company's stock after selling 39,844 shares during the period. Great Valley Advisor Group Inc.'s holdings in Palantir Technologies were worth $3,585,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp boosted its holdings in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank bought a new stake in Palantir Technologies during the fourth quarter valued at about $1,360,191,000. FMR LLC boosted its holdings in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. Finally, Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $0.37 during mid-day trading on Wednesday, hitting $123.76. 64,203,392 shares of the stock were exchanged, compared to its average volume of 78,060,498. The company has a market cap of $290.26 billion, a P/E ratio of 651.40, a PEG ratio of 10.84 and a beta of 2.68. The stock's fifty day simple moving average is $104.13 and its two-hundred day simple moving average is $88.73. Palantir Technologies Inc. has a twelve month low of $20.64 and a twelve month high of $133.49.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLTR shares. UBS Group upped their price target 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. Morgan Stanley increased their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Citigroup increased their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Loop Capital increased their target price 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. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five equities 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 company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.95.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,901,701 shares of company stock valued at $370,407,533. Corporate 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.