Lbp Am Sa Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

LBP AM SA cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the last quarter. Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $281,000. Sagespring Wealth Partners LLC raised its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after purchasing an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $52,033,000. Finally, CX Institutional purchased a new stake in shares of Palantir Technologies in the first quarter worth approximately $62,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. DA Davidson increased their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Citigroup increased their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned 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.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was 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 of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the sale, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $1.01 during trading hours on Friday, reaching $143.51. The company had a trading volume of 37,911,228 shares, compared to its average volume of 82,976,574. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22. The business has a fifty day simple moving average of $130.45 and a 200 day simple moving average of $103.25. The firm has a market cap of $338.68 billion, a PE ratio of 624.05, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59.

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, hitting analysts' consensus estimates 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 period last year, the company earned $0.08 earnings per share. The business's revenue for the quarter was up 39.4% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company 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.