Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 71.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 725 shares of the company's stock after selling 1,840 shares during the period. Byrne Asset Management LLC's holdings in Palantir Technologies were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $27,000. HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $31,000. First Command Advisory Services Inc. purchased a new position in Palantir Technologies during the 4th quarter worth $34,000. Finally, Summit Securities Group LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLTR shares. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Citigroup boosted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $86.30.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $3.21 during trading hours on Tuesday, reaching $138.20. The company's stock had a trading volume of 68,440,461 shares, compared to its average volume of 80,972,191. The firm has a market capitalization of $326.14 billion, a price-to-earnings ratio of 727.41, a P/E/G ratio of 10.84 and a beta of 2.64. The company's 50-day moving average is $116.76 and its two-hundred day moving average is $95.53. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The business's quarterly revenue was up 39.4% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the transaction, the director now directly owns 12,562 shares of the company's stock, valued at approximately $1,624,140.98. This trade represents a 57.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock valued at $188,456,658 over the last 90 days. Corporate insiders own 9.23% 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.