Palantir Technologies Inc. (NASDAQ:PLTR) Holdings Cut by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,172 shares of the company's stock after selling 2,596 shares during the period. JFS Wealth Advisors LLC's holdings in Palantir Technologies were worth $352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 5T Wealth LLC grew its holdings in shares of Palantir Technologies by 0.7% during the first quarter. 5T Wealth LLC now owns 50,408 shares of the company's stock valued at $42,000 after purchasing an additional 349 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in Palantir Technologies by 27.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 30,191 shares of the company's stock worth $2,548,000 after buying an additional 6,451 shares during the last quarter. Prairie Wealth Advisors Inc. boosted its holdings in shares of Palantir Technologies by 4.1% during the first quarter. Prairie Wealth Advisors Inc. now owns 10,584 shares of the company's stock valued at $893,000 after acquiring an additional 414 shares during the period. Madison Wealth Partners Inc bought a new position in shares of Palantir Technologies during the first quarter worth about $277,000. Finally, EWA LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth about $257,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 0.2%

Palantir Technologies stock traded down $0.34 during mid-day trading on Wednesday, hitting $142.90. The company's stock had a trading volume of 52,335,403 shares, compared to its average volume of 81,162,441. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $147.59. The stock's fifty day moving average price is $122.49 and its two-hundred day moving average price is $98.22. The stock has a market capitalization of $337.22 billion, a P/E ratio of 620.07, a P/E/G ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (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 business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm posted $0.08 EPS. The company's quarterly revenue was up 39.4% on a year-over-year basis. Equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Company insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald boosted 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. DA Davidson increased their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $89.32.

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.