Oppenheimer Asset Management Inc. Sells 37,770 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 44.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,156 shares of the company's stock after selling 37,770 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Palantir Technologies were worth $4,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC boosted its stake in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA boosted its position in shares of Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after buying an additional 111 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after buying an additional 114 shares during the last quarter. Gemmer Asset Management LLC grew its holdings in Palantir Technologies by 1.6% during the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock worth $639,000 after buying an additional 119 shares in the last quarter. Finally, Synergy Asset Management LLC raised its position in Palantir Technologies by 1.7% in the 1st quarter. Synergy Asset Management LLC now owns 7,017 shares of the company's stock valued at $592,000 after buying an additional 120 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup lifted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. 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. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Down 0.2%

Shares of NASDAQ:PLTR opened at $142.90 on Thursday. The firm has a market capitalization of $337.23 billion, a PE ratio of 621.30, a P/E/G ratio of 12.23 and a beta of 2.64. The company has a 50-day moving average price of $123.49 and a two-hundred day moving average price of $98.53. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $147.67.

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

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 in the last quarter. 9.23% of the stock is owned by company insiders.

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.

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