Inman Jager Wealth Management LLC Sells 1,975 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Inman Jager Wealth Management LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,100 shares of the company's stock after selling 1,975 shares during the quarter. Inman Jager Wealth Management LLC's holdings in Palantir Technologies were worth $852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp boosted its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $1,360,191,000. FMR LLC raised its position in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the sale, the director now owns 12,562 shares in the company, valued at $1,624,140.98. This represents a 57.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 0.2%

Shares of NASDAQ:PLTR opened at $142.90 on Thursday. The firm has a 50 day moving average of $123.49 and a 200-day moving average of $98.53. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $147.67. The stock has a market capitalization of $337.23 billion, a PE ratio of 621.30, a PEG ratio of 12.23 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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 business 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 business earned $0.08 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. Citigroup lifted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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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