NTV Asset Management LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

NTV Asset Management LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,066 shares of the company's stock after selling 29,497 shares during the period. Palantir Technologies comprises 1.6% of NTV Asset Management LLC's portfolio, making the stock its 9th largest holding. NTV Asset Management LLC's holdings in Palantir Technologies were worth $11,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $1,360,191,000. FMR LLC lifted its holdings in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

PLTR traded up $0.59 during trading hours on Tuesday, reaching $139.71. 59,671,979 shares of the stock traded hands, compared to its average volume of 82,914,535. The firm's fifty day simple moving average is $128.96 and its two-hundred day simple moving average is $102.29. The company has a market cap of $329.70 billion, a price-to-earnings ratio of 607.43, a PEG ratio of 11.47 and a beta of 2.59. 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 released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's revenue was up 39.4% on a year-over-year basis. During the same period last year, the business earned $0.08 EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $53,492,400.00. Following the transaction, the insider directly owned 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 1,451,497 shares of company stock worth $186,110,685 over the last 90 days. Company insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several recent research reports. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Citigroup upped their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $89.32.

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.