Western Wealth Management LLC Cuts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Western Wealth Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,900 shares of the company's stock after selling 4,179 shares during the quarter. Western Wealth Management LLC's holdings in Palantir Technologies were worth $3,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. First Command Advisory Services Inc. purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $34,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $34,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $35,000. Godsey & Gibb Inc. lifted its position in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PLTR shares. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Mizuho lifted their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Performance

PLTR stock traded down $13.51 during midday trading on Friday, reaching $130.74. 200,764,922 shares of the company's stock traded hands, compared to its average volume of 82,235,403. The company has a 50-day moving average price of $125.24 and a two-hundred day moving average price of $99.44. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The firm has a market capitalization of $308.53 billion, a PE ratio of 568.43, a price-to-earnings-growth ratio of 12.31 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, analysts predict 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 Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies 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.