Means Investment CO. Inc. Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Means Investment CO. Inc. lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,567 shares of the company's stock after selling 11,375 shares during the quarter. Palantir Technologies comprises 0.8% of Means Investment CO. Inc.'s holdings, making the stock its 22nd largest position. Means Investment CO. Inc.'s holdings in Palantir Technologies were worth $7,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. First Command Advisory Services Inc. purchased a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $34,000. Fairfield Financial Advisors LTD purchased a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $35,000. Godsey & Gibb Inc. lifted its position in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after acquiring an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the firm'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 completion of the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's 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 now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. Company insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PLTR shares. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. DA Davidson increased their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Five equities 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Up 1.3%

PLTR stock opened at $139.96 on Friday. The business has a fifty day moving average of $119.67 and a two-hundred day moving average of $96.64. The stock has a market cap of $330.29 billion, a price-to-earnings ratio of 608.52, a price-to-earnings-growth ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week 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 (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies 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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