Insigneo Advisory Services LLC Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Insigneo Advisory Services LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,536 shares of the company's stock after selling 5,120 shares during the period. Insigneo Advisory Services LLC's holdings in Palantir Technologies were worth $2,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLTR. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $27,000. HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $31,000. First Command Advisory Services Inc. bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $34,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,506,925 shares of company stock worth $188,456,658. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $141.41 on Tuesday. The company's fifty day simple moving average is $116.76 and its 200-day simple moving average is $95.53. The stock has a market capitalization of $333.72 billion, a PE ratio of 744.30, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Citigroup raised their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $86.30.

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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