Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Hartford Investment Management Co.

Key Points

• Hartford Investment Management Co. reduced its holdings in Palantir Technologies by 1.3%, now owning 125,078 shares valued at approximately $10.56 million.
• Several other institutional investors increased their stakes in Palantir during the first quarter, with US Bancorp DE notably growing its holdings by 29.4%.
• Insider Alexander C. Karp sold 358,982 shares of Palantir stock, leading to a 5.29% decrease in his ownership, with a total of 1.48 million shares sold by insiders in the past three months.

Hartford Investment Management Co. decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,078 shares of the company's stock after selling 1,625 shares during the quarter. Hartford Investment Management Co.'s holdings in Palantir Technologies were worth $10,557,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Palantir Technologies by 15.0% during 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 in the last quarter. Garrison Bradford & Associates Inc. purchased a new stake in shares of Palantir Technologies during the first quarter valued at $45,000. Menard Financial Group LLC boosted its position in shares of Palantir Technologies by 8.2% during the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after buying an additional 1,964 shares during the last quarter. Pitcairn Co. purchased a new position in Palantir Technologies in the fourth quarter worth about $281,000. Finally, TCW Group Inc. boosted its position in Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after purchasing an additional 4,068 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the transaction, the insider owned 363,755 shares in the company, valued at approximately $54,563,250. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director owned 62,887 shares in the company, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 2.6%

Shares of PLTR stock traded down $4.08 during mid-day trading on Friday, reaching $154.27. The stock had a trading volume of 60,986,881 shares, compared to its average volume of 52,655,748. The firm has a market cap of $364.06 billion, a price-to-earnings ratio of 670.74, a PEG ratio of 13.50 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.89. The business's fifty day moving average is $140.37 and its 200-day moving average is $111.96.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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 return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the company earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley raised their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $96.45.

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.