Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Global Financial Private Client LLC

Global Financial Private Client LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 45.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,077 shares of the company's stock after selling 3,433 shares during the quarter. Global Financial Private Client LLC's holdings in Palantir Technologies were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. grew its position in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Palantir Technologies in the 4th quarter valued at $253,816,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird raised their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. UBS Group raised their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Trading Up 3.5%

PLTR traded up $4.31 during trading on Friday, hitting $126.63. 185,234,367 shares of the company's stock were exchanged, compared to its average volume of 78,766,972. Palantir Technologies Inc. has a 1 year low of $21.01 and a 1 year high of $133.49. The stock has a 50 day moving average price of $105.90 and a 200 day moving average price of $89.86. The firm has a market cap of $298.84 billion, a P/E ratio of 666.51, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data 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 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the firm earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Jeffrey Buckley sold 1,708 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the transaction, the insider now directly owns 34,468 shares of the company's stock, valued at approximately $4,356,410.52. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. Corporate insiders own 9.23% of the company's stock.

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.