Milestone Asset Management LLC Reduces Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Milestone Asset Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,819 shares of the company's stock after selling 2,222 shares during the quarter. Milestone Asset Management LLC's holdings in Palantir Technologies were worth $2,601,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in shares of Palantir Technologies during the fourth quarter valued at about $289,000. Union Bancaire Privee UBP SA acquired a new stake in Palantir Technologies in the 4th quarter valued at about $15,177,000. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $450,000. R Squared Ltd purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $33,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Palantir Technologies by 37.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,555 shares of the company's stock worth $269,000 after purchasing an additional 970 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 34,357 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $74,568.32. This represents a 98.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,894,925 shares of company stock worth $369,820,528. Insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. UBS Group increased their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Morgan Stanley raised 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. DA Davidson raised 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, Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Stock Down 5.8%

Shares of NASDAQ:PLTR traded down $7.58 during midday trading on Thursday, hitting $122.43. 86,346,090 shares of the stock traded hands, compared to its average volume of 79,463,971. The stock has a market capitalization of $288.92 billion, a PE ratio of 644.40, a P/E/G ratio of 10.84 and a beta of 2.64. The business's 50 day moving average is $108.44 and its two-hundred day moving average is $91.31. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $135.28.

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

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.