Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Generali Powszechne Towarzystwo Emerytalne

Key Points

• Generali Powszechne Towarzystwo Emerytalne sold 140,000 shares of Palantir Technologies in Q1 2023, reducing its stake by 41.6%, leaving it with 196,701 shares valued at approximately $16.6 million.
• Palantir reported a revenue of $883.86 million for Q1, exceeding estimates, and recorded a net margin of 18.32% alongside an EPS that matched analysts' projections.
• Insiders of Palantir Technologies sold over 1.48 million shares last quarter, raising concerns as corporate insiders now hold 9.23% of the company’s stock.

Generali Powszechne Towarzystwo Emerytalne lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 41.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 196,701 shares of the company's stock after selling 140,000 shares during the period. Palantir Technologies makes up 5.2% of Generali Powszechne Towarzystwo Emerytalne's investment portfolio, making the stock its 8th largest holding. Generali Powszechne Towarzystwo Emerytalne's holdings in Palantir Technologies were worth $16,602,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Palantir Technologies by 7.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 986,304 shares of the company's stock worth $83,244,000 after acquiring an additional 67,252 shares during the period. Strategic Family Wealth Counselors L.L.C. purchased a new position in shares of Palantir Technologies in the 1st quarter valued at about $259,000. Signature Wealth Management Partners LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at about $336,000. Asset Planning Inc increased its holdings in shares of Palantir Technologies by 11.3% in the 1st quarter. Asset Planning Inc now owns 1,480 shares of the company's stock valued at $125,000 after purchasing an additional 150 shares in the last quarter. Finally, Headland Capital LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at about $235,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $154.27 on Friday. The company has a market cap of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $160.89. The company has a 50-day simple moving average of $140.37 and a 200-day simple moving average of $111.96.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the sale, the insider directly owned 363,755 shares of the company's stock, valued at approximately $54,563,250. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley increased their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price target for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Piper Sandler assumed coverage on shares of Palantir Technologies in a report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price target for the company. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $96.45.

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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