Palantir Technologies Inc. (NASDAQ:PLTR) Position Decreased by Burney Co.

Key Points

• Burney Co. has decreased its holdings in Palantir Technologies by 39.6%, resulting in ownership of 7,175 shares worth approximately $606,000.
• Insider transactions include significant sales by Shyam Sankar, who sold 405,000 shares for over $53 million, representing a 36.56% decrease in his ownership.
• Several analysts have set a target price for Palantir shares, with Loop Capital suggesting a price target of $155.00 and a majority of analysts rating the stock as a "Hold."

Burney Co. decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,175 shares of the company's stock after selling 4,710 shares during the period. Burney Co.'s holdings in Palantir Technologies were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PLTR. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $450,000. Congress Wealth Management LLC DE acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $648,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $222,000. Financial Counselors Inc. acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $338,000. Finally, WINTON GROUP Ltd boosted its holdings in shares of Palantir Technologies by 34.2% in the fourth quarter. WINTON GROUP Ltd now owns 16,596 shares of the company's stock worth $1,255,000 after buying an additional 4,230 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred 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 sale, the insider 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 disclosure for this sale can be found here. Over the last three months, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PLTR shares. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Morgan Stanley raised their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $95.30.

Palantir Technologies Stock Up 2.5%

NASDAQ PLTR opened at $158.80 on Friday. The stock has a market capitalization of $374.75 billion, a PE ratio of 690.43, a price-to-earnings-growth ratio of 13.22 and a beta of 2.59. The company has a 50 day moving average price of $137.03 and a two-hundred day moving average price of $108.85. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

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