Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,615 shares of the company's stock after selling 2,708 shares during the quarter. Mayflower Financial Advisors LLC's holdings in Palantir Technologies were worth $2,162,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $450,000. Proficio Capital Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $522,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $386,000. Natixis Advisors LLC increased its stake in Palantir Technologies by 266.6% in the fourth quarter. Natixis Advisors LLC now owns 200,683 shares of the company's stock valued at $15,178,000 after purchasing an additional 145,941 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Palantir Technologies by 17.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 26,829 shares of the company's stock worth $2,029,000 after buying an additional 3,973 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Up 2.0%

Shares of NASDAQ:PLTR traded up $3.08 on Thursday, reaching $153.99. 59,788,537 shares of the company were exchanged, compared to its average volume of 83,259,620. The company has a 50-day moving average of $132.92 and a 200-day moving average of $105.08. The firm has a market cap of $363.40 billion, a price-to-earnings ratio of 669.52, a price-to-earnings-growth ratio of 12.68 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $155.65.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley raised their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $91.37.

Insiders Place Their Bets

In other news, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares in the company, valued at $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,452,297 shares of company stock worth $186,222,373. 9.23% of the stock is 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.