Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 92.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLTR. Assenagon Asset Management S.A. boosted its position in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after buying an additional 6,479 shares during the period. Pitcairn Co. purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $281,000. Sagespring Wealth Partners LLC boosted its position in shares of Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $52,033,000. Finally, CX Institutional purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $62,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 0.3%

Shares of PLTR traded down $0.40 during midday trading on Friday, hitting $142.10. 52,002,360 shares of the company's stock traded hands, compared to its average volume of 83,029,816. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22. The firm's fifty day moving average is $130.45 and its 200-day moving average is $103.25. The stock has a market capitalization of $335.34 billion, a price-to-earnings ratio of 617.83, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS 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 firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction 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 sale, the insider owned 363,755 shares in the company, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the company'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 completion of the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 1,451,497 shares of company stock worth $186,110,685. Company insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLTR shares. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Mizuho boosted their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.