Independent Solutions Wealth Management LLC Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Independent Solutions Wealth Management LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,996 shares of the company's stock after selling 10,898 shares during the period. Palantir Technologies makes up 1.9% of Independent Solutions Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding. Independent Solutions Wealth Management LLC's holdings in Palantir Technologies were worth $8,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Norges Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth $1,360,191,000. Geode Capital Management LLC grew its position 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 worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP increased its stake in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Palantir Technologies by 31.2% in the 4th 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 in the last quarter. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $253,816,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $0.33 during mid-day trading on Wednesday, hitting $142.90. The stock had a trading volume of 61,226,838 shares, compared to its average volume of 81,189,355. The business has a 50 day moving average price of $122.49 and a two-hundred day moving average price of $98.22. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $147.59. The firm has a market cap of $337.23 billion, a P/E ratio of 621.30, a price-to-earnings-growth ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on PLTR shares. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Mizuho raised their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated 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 approximately $4,983,793.75. This represents a 1.29% 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 Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Company 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.