Palantir Technologies Inc. (NASDAQ:PLTR) Holdings Decreased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,656 shares of the company's stock after selling 4,944 shares during the quarter. Beverly Hills Private Wealth LLC's holdings in Palantir Technologies were worth $815,000 at the end of the most recent quarter.

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

Palantir Technologies Stock Up 0.4%

NASDAQ:PLTR traded up $0.59 during trading hours on Tuesday, reaching $139.71. 59,671,979 shares of the stock were exchanged, compared to its average volume of 82,914,307. The firm has a 50 day simple moving average of $128.96 and a 200-day simple moving average of $102.29. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The stock has a market capitalization of $329.70 billion, a P/E ratio of 607.43, a P/E/G ratio of 11.47 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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 company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the business posted $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $89.32.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the sale, the insider owned 363,755 shares of the company's stock, valued at $49,219,689.05. The trade was a 8.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $810,271,540.26. The trade was a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,451,497 shares of company stock worth $186,110,685. 12.93% of the stock is currently owned by insiders.

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.