Oppenheimer & Co. Inc. Reduces Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Oppenheimer & Co. Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 348,754 shares of the company's stock after selling 184,246 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Palantir Technologies were worth $29,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PLTR. Tallon Kerry Patrick bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $289,000. Union Bancaire Privee UBP SA bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $15,177,000. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $450,000. Callan Capital LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $254,000. Finally, Olympiad Research LP bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $278,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Shyam Sankar sold 405,000 shares of the 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 sale, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock valued at $188,456,658 in the last ninety days. Insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PLTR shares. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. UBS Group boosted their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $2.62 on Monday, reaching $139.92. The company's stock had a trading volume of 69,802,719 shares, compared to its average volume of 81,177,766. The company has a 50-day simple moving average of $120.65 and a 200 day simple moving average of $97.46. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $144.86. The company has a market cap of $330.20 billion, a P/E ratio of 608.35, a PEG ratio of 11.72 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the firm earned $0.08 EPS. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.