Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Fishman Jay A Ltd. MI

Fishman Jay A Ltd. MI cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 73.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,570 shares of the company's stock after selling 12,890 shares during the period. Fishman Jay A Ltd. MI's holdings in Palantir Technologies were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PLTR. Assenagon Asset Management S.A. boosted its stake in Palantir Technologies by 15.0% during the first 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. acquired a new position in Palantir Technologies during the fourth quarter worth $281,000. Sagespring Wealth Partners LLC boosted its stake in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Palantir Technologies during the fourth quarter worth $52,033,000. Finally, CX Institutional acquired a new position in Palantir Technologies during the first quarter worth $62,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last three months. 9.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Citigroup upped their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $137.30 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86. The company has a market cap of $324.02 billion, a PE ratio of 596.96, a price-to-earnings-growth ratio of 11.95 and a beta of 2.64. The stock's 50 day moving average price is $120.65 and its 200 day moving average price is $97.09.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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