Masso Torrence Wealth Management Inc. Reduces Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Masso Torrence Wealth Management Inc. lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 44.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,580 shares of the company's stock after selling 2,100 shares during the period. Masso Torrence Wealth Management Inc.'s holdings in Palantir Technologies were worth $218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC grew its position in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP grew its position in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Mizuho upped their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Down 1.9%

Palantir Technologies stock opened at $137.30 on Friday. The business has a fifty day moving average of $120.65 and a two-hundred day moving average of $97.28. The firm has a market cap of $324.02 billion, a P/E ratio of 596.96, a P/E/G ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86.

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

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction on Monday, March 31st. The stock was 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 of the company's stock, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. Corporate insiders own 9.23% of the company's stock.

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.

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