Palantir Technologies Inc. (NASDAQ:PLTR) Position Reduced by InTrack Investment Management Inc

InTrack Investment Management Inc lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,661 shares of the company's stock after selling 26,368 shares during the quarter. Palantir Technologies accounts for about 3.3% of InTrack Investment Management Inc's holdings, making the stock its 5th biggest position. InTrack Investment Management Inc's holdings in Palantir Technologies were worth $3,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northeast Investment Management grew its stake in shares of Palantir Technologies by 30.4% during the 1st quarter. Northeast Investment Management now owns 4,237 shares of the company's stock worth $358,000 after purchasing an additional 987 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in Palantir Technologies by 20.8% during the first quarter. Redhawk Wealth Advisors Inc. now owns 4,373 shares of the company's stock worth $369,000 after buying an additional 752 shares in the last quarter. CX Institutional acquired a new position in Palantir Technologies during the first quarter worth about $62,000. Assenagon Asset Management S.A. increased its holdings in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after buying an additional 6,479 shares in the last quarter. Finally, Moseley Investment Management Inc. increased its holdings in Palantir Technologies by 7.3% in the first quarter. Moseley Investment Management Inc. now owns 27,473 shares of the company's stock valued at $2,319,000 after buying an additional 1,859 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Loop Capital upped their target price on Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $86.30.

Palantir Technologies Stock Up 1.6%

Shares of PLTR stock traded up $2.21 during mid-day trading on Friday, hitting $137.40. 93,318,005 shares of the company's stock were exchanged, compared to its average volume of 80,580,879. The stock has a market cap of $324.25 billion, a price-to-earnings ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $140.00. The stock has a 50-day simple moving average of $114.28 and a two-hundred day simple moving average of $94.12.

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 (EPS) for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $863.89 million. During the same period last year, the company earned $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies 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 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. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction 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 sale, the director now directly owns 12,562 shares of the company's stock, valued at $1,624,140.98. This represents a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,816,925 shares of company stock worth $215,448,358. 9.23% of the stock is 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.