Haven Private LLC Trims Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Haven Private LLC reduced its stake in Palantir Technologies by 31.9% in the first quarter, now holding 30,915 shares valued at approximately $2.6 million.
• Palantir reported a 39.4% increase in revenue year-over-year, achieving $883.86 million for the quarter and meeting earnings estimates with $0.13 EPS.
• Insider sales included a total of 1.48 million shares sold in the last 90 days, reflecting a significant reduction in ownership among Palantir’s insiders.

Haven Private LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,915 shares of the company's stock after selling 14,468 shares during the quarter. Palantir Technologies makes up approximately 1.5% of Haven Private LLC's holdings, making the stock its 17th largest holding. Haven Private LLC's holdings in Palantir Technologies were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its stake in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth $33,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 2.6%

Shares of NASDAQ PLTR opened at $154.27 on Friday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89. The business has a 50 day simple moving average of $140.37 and a 200-day simple moving average of $112.27. The company has a market capitalization of $364.06 billion, a price-to-earnings ratio of 670.74, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60.

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, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the firm posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the transaction, the insider owned 363,755 shares of the company's stock, valued at $54,563,250. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Piper Sandler started coverage on Palantir Technologies in a report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price target for the company. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Four research 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. According to data from MarketBeat.com, the stock 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.

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