Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Lane Generational LLC

Lane Generational LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 79.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,687 shares of the company's stock after selling 122,754 shares during the period. Palantir Technologies accounts for 2.9% of Lane Generational LLC's investment portfolio, making the stock its 16th largest holding. Lane Generational LLC's holdings in Palantir Technologies were worth $2,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares during the last quarter. Pitcairn Co. purchased a new position in Palantir Technologies during the 4th quarter worth $281,000. Sagespring Wealth Partners LLC raised its position in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. CX Institutional purchased a new position in shares of Palantir Technologies in the 1st quarter valued at about $62,000. Finally, Bessemer Group Inc. increased its holdings in shares of Palantir Technologies by 13.6% in the 1st quarter. Bessemer Group Inc. now owns 25,414 shares of the company's stock valued at $2,145,000 after purchasing an additional 3,050 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 2.6%

Shares of PLTR traded up $4.07 during mid-day trading on Friday, reaching $158.93. 51,188,664 shares of the stock traded hands, compared to its average volume of 93,990,016. The firm has a market cap of $375.07 billion, a price-to-earnings ratio of 691.06, a P/E/G ratio of 13.20 and a beta of 2.59. The stock has a fifty day simple moving average of $136.44 and a 200 day simple moving average of $108.24. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39.

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. The business had revenue of $883.86 million during 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 business's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director owned 62,887 shares in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at approximately $307,470.60. The trade was a 81.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of Palantir Technologies in a report on Friday. They issued an "overweight" rating and a $170.00 price target for the company. Wedbush set a $160.00 target price on shares of Palantir Technologies in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $95.30.

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.