Insight Wealth Strategies LLC Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Insight Wealth Strategies LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,244 shares of the company's stock after selling 32,109 shares during the period. Insight Wealth Strategies LLC's holdings in Palantir Technologies were worth $3,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLTR. Mather Group LLC. lifted its holdings in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $3,233,000. American Institute for Advanced Investment Management LLP purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $246,000. Sage Advisors LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $369,000. Finally, Diversified Investment Strategies LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $242,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PLTR shares. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $83.95.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. This represents a 99.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on 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 transaction, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock valued at $370,407,533 in the last 90 days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock traded down $1.44 during mid-day trading on Thursday, reaching $122.32. 62,834,015 shares of the company's stock traded hands, compared to its average volume of 78,213,696. Palantir Technologies Inc. has a 12 month low of $21.01 and a 12 month high of $133.49. The firm has a 50 day moving average price of $105.30 and a two-hundred day moving average price of $89.40. The firm has a market capitalization of $288.66 billion, a PE ratio of 643.82, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.