Palantir Technologies Inc. $PLTR is Oder Investment Management LLC's 4th Largest Position

Key Points

• Oder Investment Management LLC reduced its stake in Palantir Technologies by 18.4%, owning 53,504 shares valued at approximately $4.52 million after selling 12,079 shares in the first quarter.
• Insiders have actively been selling shares, with Ryan D. Taylor and Shyam Sankar selling a total of 440,480 shares valued at over $57 million recently.
• Following earnings results, various research firms have adjusted their price targets for Palantir Technologies, with Cantor Fitzgerald raising its target from $110 to $155 and Loop Capital from $178 to $180.

Oder Investment Management LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,504 shares of the company's stock after selling 12,079 shares during the quarter. Palantir Technologies accounts for 3.8% of Oder Investment Management LLC's portfolio, making the stock its 4th largest position. Oder Investment Management LLC's holdings in Palantir Technologies were worth $4,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp acquired a new stake in Palantir Technologies during the first quarter worth approximately $25,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC boosted its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its position in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded down $3.14 during trading hours on Monday, reaching $174.03. The company's stock had a trading volume of 62,432,763 shares, compared to its average volume of 60,446,156. The firm has a 50-day simple moving average of $151.87 and a 200-day simple moving average of $120.39. The firm has a market capitalization of $412.86 billion, a price-to-earnings ratio of 580.12, a PEG ratio of 9.99 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,515,632 shares of company stock worth $196,472,623 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLTR. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $136.61.

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.