Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lessened by Lbp Am Sa

LBP AM SA lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,574 shares of the company's stock after selling 3,000 shares during the quarter. LBP AM SA's holdings in Palantir Technologies were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the first quarter valued at about $33,000. Cornerstone Planning Group LLC raised its position in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $34,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares during the last quarter. Finally, Godsey & Gibb Inc. increased its position in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after acquiring an additional 370 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. DA Davidson lifted their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets assumed 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. Mizuho lifted their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Five investment 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's stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $0.63 during midday trading on Thursday, hitting $142.50. 64,227,973 shares of the company's stock were exchanged, compared to its average volume of 83,153,909. The stock's 50 day moving average price is $129.92 and its 200-day moving average price is $102.83. The firm has a market cap of $336.29 billion, a P/E ratio of 619.57, a PEG ratio of 11.93 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of the business'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 transaction of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business'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 transaction, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is currently owned by insiders.

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.