GSB Wealth Management LLC Sells 1,875 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

GSB Wealth Management LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,635 shares of the company's stock after selling 1,875 shares during the quarter. GSB Wealth Management LLC's holdings in Palantir Technologies were worth $476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighMark Wealth Management LLC raised its stake in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $31,000. First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $35,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction 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 sale, the director now owns 61,339 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The shares were 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 owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last three months. 9.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLTR. Citigroup raised 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. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $2.66 during mid-day trading on Friday, hitting $137.30. The stock had a trading volume of 86,915,690 shares, compared to its average volume of 81,223,390. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $144.86. The business has a 50 day moving average price of $120.65 and a two-hundred day moving average price of $97.28. The firm has a market cap of $324.02 billion, a P/E ratio of 596.96, a price-to-earnings-growth ratio of 11.72 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 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.