Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,245 shares of the company's stock after selling 6,788 shares during the quarter. Palantir Technologies accounts for 2.9% of Canvas Wealth Advisors LLC's holdings, making the stock its 11th largest holding. Canvas Wealth Advisors LLC's holdings in Palantir Technologies were worth $11,246,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLTR. First Command Advisory Services Inc. purchased a new stake in Palantir Technologies during the 4th quarter worth about $34,000. Summit Securities Group LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $34,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $35,000. Godsey & Gibb Inc. increased its position in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

PLTR stock opened at $144.25 on Friday. The stock has a market capitalization of $340.42 billion, a PE ratio of 627.17, a price-to-earnings-growth ratio of 12.20 and a beta of 2.64. The company has a fifty day moving average of $124.50 and a 200-day moving average of $99.02. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

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, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the company posted $0.08 earnings per share. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. 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, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $89.32.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

About Palantir Technologies

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.

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