Optimum Investment Advisors Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Optimum Investment Advisors trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 92.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,314 shares of the company's stock after selling 17,188 shares during the quarter. Optimum Investment Advisors' holdings in Palantir Technologies were worth $111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP boosted its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $253,816,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $3.42 during midday trading on Wednesday, hitting $143.13. The company had a trading volume of 68,255,104 shares, compared to its average volume of 82,949,547. The company's 50 day simple moving average is $129.43 and its 200 day simple moving average is $102.55. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The stock has a market cap of $337.77 billion, a price-to-earnings ratio of 622.30, a PEG ratio of 11.88 and a beta of 2.59.

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

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares in the company, 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. In the last ninety days, insiders sold 1,451,497 shares of company stock worth $186,110,685. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLTR shares. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.32.

About Palantir Technologies

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.