Nwam LLC Sells 3,612 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Nwam LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,283 shares of the company's stock after selling 3,612 shares during the quarter. Nwam LLC's holdings in Palantir Technologies were worth $2,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the first quarter valued at $25,000. Richardson Capital Management LLC purchased a new stake in Palantir Technologies during the first quarter valued at $33,000. Cornerstone Planning Group LLC raised its stake in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at $34,000. Finally, Atlantic Edge Private Wealth Management LLC raised its stake 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 purchasing an additional 125 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 0.8%

Shares of NASDAQ:PLTR traded down $1.21 during trading on Friday, reaching $152.78. The stock had a trading volume of 18,628,217 shares, compared to its average volume of 83,163,235. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $155.68. The company has a market capitalization of $360.54 billion, a P/E ratio of 663.95, a PEG ratio of 12.88 and a beta of 2.59. The firm's 50-day simple moving average is $133.61 and its 200 day simple moving average is $105.61.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period last year, the business earned $0.08 EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the transaction, the director directly owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred 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 $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 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. Company insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PLTR shares. Cantor Fitzgerald upped their price target 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. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup lifted 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. Finally, Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $116.00 to $135.00 in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $91.37.

Palantir Technologies 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.

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