Bosman Wealth Management LLC Sells 59,271 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Bosman Wealth Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 32.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,461 shares of the company's stock after selling 59,271 shares during the quarter. Palantir Technologies comprises about 10.4% of Bosman Wealth Management LLC's portfolio, making the stock its biggest position. Bosman Wealth Management LLC's holdings in Palantir Technologies were worth $10,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Assenagon Asset Management S.A. grew its stake in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares during the last quarter. Pitcairn Co. purchased a new stake in Palantir Technologies during the 4th quarter valued at about $281,000. Sagespring Wealth Partners LLC grew its stake in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies during the 4th quarter valued at about $52,033,000. Finally, CX Institutional purchased a new stake in Palantir Technologies during the 1st quarter valued at about $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $90.37.

Palantir Technologies Stock Performance

Shares of PLTR stock traded up $7.05 during trading hours on Monday, reaching $149.15. The company had a trading volume of 81,433,210 shares, compared to its average volume of 96,957,523. The stock has a fifty day moving average of $130.81 and a 200-day moving average of $103.96. The company has a market capitalization of $351.98 billion, a price-to-earnings ratio of 648.48, a PEG ratio of 12.13 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $149.58.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly 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 business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 in the last 90 days. Insiders own 12.93% of the company's stock.

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.