Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 39.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,180 shares of the company's stock after selling 21,194 shares during the quarter. Palantir Technologies accounts for 1.3% of Catalyst Private Wealth LLC's portfolio, making the stock its 18th largest position. Catalyst Private Wealth LLC's holdings in Palantir Technologies were worth $2,716,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its position 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 acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its position in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC grew its position in shares of Palantir Technologies by 22.6% in 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 in the last quarter. Finally, Invesco Ltd. grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 3.5%

Palantir Technologies stock traded up $4.31 during mid-day trading on Friday, hitting $126.63. 185,234,367 shares of the company's stock traded hands, compared to its average volume of 78,904,928. The firm has a 50 day moving average price of $105.90 and a 200 day moving average price of $90.06. The company has a market cap of $298.84 billion, a PE ratio of 666.51, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a one year low of $21.01 and a one year high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the business earned $0.08 EPS. The company's quarterly revenue was up 39.4% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTR. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.95.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. The trade was a 99.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 39,825 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $810,271,540.26. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. Corporate insiders own 9.23% of the company's stock.

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.