Optimum Investment Advisors Has $111,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Optimum Investment Advisors decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 92.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter valued at about $1,360,191,000. Geode Capital Management LLC grew its stake in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP grew its stake in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new position in Palantir Technologies in the fourth quarter valued at about $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the company's 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 $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of the 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 $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 1,451,497 shares of company stock worth $186,110,685. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 0.4%

Palantir Technologies stock traded down $0.63 during trading hours on Thursday, hitting $142.50. The stock had a trading volume of 64,227,973 shares, compared to its average volume of 83,153,909. The company has a 50-day moving average of $130.45 and a two-hundred day moving average of $103.25. The company has a market cap of $336.29 billion, a PE ratio of 619.57, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

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

Analyst Ratings Changes

A number of research analysts have commented on PLTR shares. Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Cantor Fitzgerald boosted their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho boosted their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a research report on Thursday. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.