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

GSB Wealth Management LLC trimmed its position in shares of 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 & 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 reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighMark Wealth Management LLC boosted its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Palantir Technologies during the fourth quarter worth $31,000. First Command Advisory Services Inc. bought a new position in shares of Palantir Technologies during the fourth quarter worth $34,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $35,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction dated 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 of the company's stock, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction 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 position. The disclosure for this sale can be found here. In the last 90 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.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $138.20 on Wednesday. The firm has a market capitalization of $326.14 billion, a PE ratio of 600.87, a P/E/G ratio of 11.93 and a beta of 2.64. The company's 50-day moving average is $117.68 and its 200-day moving average is $95.83. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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 for 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%. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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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