LaFleur & Godfrey LLC Trims Position in Palantir Technologies Inc. (NASDAQ:PLTR)

LaFleur & Godfrey LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 193,376 shares of the company's stock after selling 177,261 shares during the period. Palantir Technologies accounts for approximately 2.2% of LaFleur & Godfrey LLC's portfolio, making the stock its 14th largest position. LaFleur & Godfrey LLC's holdings in Palantir Technologies were worth $16,321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA raised its holdings in Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC raised its holdings in Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Gemmer Asset Management LLC raised its holdings in Palantir Technologies by 1.6% during the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock worth $639,000 after purchasing an additional 119 shares in the last quarter. Finally, Synergy Asset Management LLC raised its holdings in Palantir Technologies by 1.7% during the first quarter. Synergy Asset Management LLC now owns 7,017 shares of the company's stock worth $592,000 after purchasing an additional 120 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $139.92 on Tuesday. The company's 50 day simple moving average is $121.59 and its 200-day simple moving average is $97.91. The firm has a market capitalization of $330.20 billion, a PE ratio of 608.35, a P/E/G ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Cantor Fitzgerald increased 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. Mizuho increased their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. The Goldman Sachs Group increased 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. Morgan Stanley increased their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, UBS Group increased 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. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $89.32.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. 12.93% of the stock is currently owned by insiders.

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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