Merit Financial Group LLC Sells 14,975 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Merit Financial Group LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,086 shares of the company's stock after selling 14,975 shares during the quarter. Merit Financial Group LLC's holdings in Palantir Technologies were worth $11,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tallon Kerry Patrick bought a new position in Palantir Technologies in the 4th quarter worth approximately $289,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $15,177,000. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth $450,000. R Squared Ltd purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $33,000. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Palantir Technologies by 27.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 19,419 shares of the company's stock valued at $1,469,000 after purchasing an additional 4,146 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 3,936 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $495,817.92. Following the transaction, the insider now directly owns 363,755 shares of the company's stock, valued at approximately $45,822,217.35. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Buckley sold 1,708 shares of the firm'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 $215,874.12. Following the completion of the sale, the insider now directly owns 34,468 shares of the company's stock, valued at $4,356,410.52. The trade was a 4.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,894,925 shares of company stock valued at $369,820,528 in the last 90 days. Insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

PLTR traded down $10.10 during trading on Thursday, hitting $119.91. 127,650,048 shares of the stock traded hands, compared to its average volume of 79,607,930. The firm has a market capitalization of $282.98 billion, a P/E ratio of 631.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28. The firm has a 50-day moving average of $108.44 and a 200 day moving average of $91.31.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. UBS Group boosted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.95.

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.