Onyx Bridge Wealth Group LLC Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Onyx Bridge Wealth Group LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,588 shares of the company's stock after selling 6,044 shares during the period. Onyx Bridge Wealth Group LLC's holdings in Palantir Technologies were worth $1,991,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PLTR. Richardson Capital Management LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $33,000. Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Fairfield Financial Advisors LTD bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $35,000. Godsey & Gibb Inc. boosted its stake in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLTR. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Up 1.6%

Shares of PLTR stock traded up $2.15 during mid-day trading on Friday, reaching $134.27. 41,812,483 shares of the company's stock traded hands, compared to its average volume of 82,906,073. The company's 50-day moving average price is $128.04 and its 200-day moving average price is $101.06. The company has a market cap of $316.85 billion, a P/E ratio of 583.76, a P/E/G ratio of 11.28 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million for 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%. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the transaction, the insider owned 363,755 shares of the company's stock, valued at $49,219,689.05. This trade represents a 8.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,451,497 shares of company stock worth $186,110,685. Company insiders own 9.23% of the company's stock.

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.