Palantir Technologies Inc. (NASDAQ:PLTR) is Intellectus Partners LLC's 9th Largest Position

Intellectus Partners LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,899 shares of the company's stock after selling 6,745 shares during the quarter. Palantir Technologies accounts for approximately 1.4% of Intellectus Partners LLC's portfolio, making the stock its 9th largest position. Intellectus Partners LLC's holdings in Palantir Technologies were worth $5,731,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. grew its position in Palantir Technologies by 101.4% in the 4th 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 period. Sage Advisors LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $369,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Palantir Technologies by 13.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 247,585 shares of the company's stock worth $18,725,000 after buying an additional 28,534 shares during the last quarter. MGB Wealth Management LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $278,000. Finally, FFG Partners LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $4,886,000. Institutional investors own 45.65% of the company's stock.

Insider Activity

In other news, insider Alexander C. Karp sold 358,982 shares of the business'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 completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. The trade was a 5.29% 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 the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock worth $369,820,528 over the last ninety days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR traded up $7.81 during midday trading on Friday, hitting $127.72. 86,933,462 shares of the company traded hands, compared to its average volume of 79,886,273. The stock has a 50-day moving average of $109.15 and a 200-day moving average of $91.71. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $135.28. The firm has a market cap of $301.41 billion, a P/E ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PLTR shares. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. UBS Group boosted their price target 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. The Goldman Sachs Group boosted their price target 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. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $83.95.

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.