Meridian Investment Counsel Inc. Has $4.65 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Meridian Investment Counsel Inc. cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,135 shares of the company's stock after selling 2,465 shares during the period. Palantir Technologies makes up 1.4% of Meridian Investment Counsel Inc.'s investment portfolio, making the stock its 15th biggest holding. Meridian Investment Counsel Inc.'s holdings in Palantir Technologies were worth $4,653,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Richardson Capital Management LLC bought a new stake in Palantir Technologies during the first quarter valued at about $33,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares during the period. Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% during 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 during the period. Arlington Trust Co LLC boosted its holdings in Palantir Technologies by 542.9% during the first quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock valued at $38,000 after acquiring an additional 380 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Palantir Technologies during the fourth quarter valued at about $34,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 3.5%

NASDAQ:PLTR traded up $4.76 during mid-day trading on Monday, hitting $139.12. The company's stock had a trading volume of 71,672,412 shares, compared to its average volume of 83,007,080. The company has a market capitalization of $328.31 billion, a price-to-earnings ratio of 1,119.67, a P/E/G ratio of 11.47 and a beta of 2.59. The stock has a fifty day moving average of $128.47 and a 200-day moving average of $101.88. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

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, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup upped their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley increased their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $89.32.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 34,357 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the sale, the insider owned 592 shares in the company, valued at approximately $74,568.32. This represents a 98.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 12.93% of the stock is currently owned by company insiders.

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.