Novare Capital Management LLC Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Novare Capital Management LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,345 shares of the company's stock after selling 4,905 shares during the quarter. Novare Capital Management LLC's holdings in Palantir Technologies were worth $451,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Richardson Capital Management LLC purchased a new position in Palantir Technologies during the 1st quarter valued at about $33,000. Summit Securities Group LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $34,000. Fairfield Financial Advisors LTD purchased a new position in Palantir Technologies during the 4th quarter valued at about $35,000. Godsey & Gibb Inc. increased its holdings in Palantir Technologies by 740.0% during the 1st 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 Palantir Technologies during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLTR shares. Mizuho raised their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. Citigroup raised 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. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $89.32.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider owned 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock valued at $186,110,685 in the last three months. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Up 3.5%

Shares of PLTR traded up $4.76 during mid-day trading on Monday, hitting $139.12. The company had a trading volume of 71,672,412 shares, compared to its average volume of 83,007,080. The business's 50-day simple moving average is $128.47 and its 200-day simple moving average is $101.88. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The stock has a market cap of $328.31 billion, a PE ratio of 1,119.67, a P/E/G ratio of 11.47 and a beta of 2.59.

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

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.