Arcadia Wealth Management LLC Sells 2,806 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Arcadia Wealth Management LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,500 shares of the company's stock after selling 2,806 shares during the quarter. Arcadia Wealth Management LLC's holdings in Palantir Technologies were worth $549,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLTR. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies during the 4th quarter valued at $450,000. Proficio Capital Partners LLC bought a new stake in Palantir Technologies in the fourth quarter valued at about $522,000. Thrivent Financial for Lutherans increased its position in shares of Palantir Technologies by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 92,313 shares of the company's stock valued at $6,900,000 after buying an additional 657 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter worth $38,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Palantir Technologies by 14.2% in the 4th quarter. TD Private Client Wealth LLC now owns 5,417 shares of the company's stock valued at $410,000 after purchasing an additional 672 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Activity

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 transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents 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 Stephen Andrew Cohen sold 309,696 shares of the 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 transaction, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,485,632 shares of company stock worth $191,222,623. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Up 3.7%

Shares of PLTR traded up $5.55 during trading on Wednesday, reaching $154.62. The company's stock had a trading volume of 46,927,078 shares, compared to its average volume of 83,175,297. The company has a fifty day moving average of $134.33 and a two-hundred day moving average of $106.57. The company has a market cap of $364.89 billion, a price-to-earnings ratio of 672.26, a P/E/G ratio of 12.96 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $91.37.

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.