Western Pacific Wealth Management LP Has $3.52 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Western Pacific Wealth Management LP lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,671 shares of the company's stock after selling 7,738 shares during the period. Palantir Technologies makes up approximately 3.2% of Western Pacific Wealth Management LP's portfolio, making the stock its 9th biggest holding. Western Pacific Wealth Management LP's holdings in Palantir Technologies were worth $3,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $1,360,191,000. FMR LLC grew its stake in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. Finally, Invesco Ltd. increased its holdings in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated 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 sale, the insider now owns 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock valued at $188,456,658 over the last three months. Insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PLTR shares. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, UBS Group raised their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $86.30.

Palantir Technologies Stock Up 2.9%

NASDAQ:PLTR traded up $4.01 during midday trading on Monday, hitting $141.41. The company had a trading volume of 80,082,439 shares, compared to its average volume of 81,013,778. The company has a market capitalization of $333.72 billion, a PE ratio of 744.30, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $144.74. The stock's fifty day moving average price is $115.48 and its 200-day moving average price is $95.01.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 6.85% and a net margin of 16.13%. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.