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

GraniteShares Advisors LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,170 shares of the company's stock after selling 2,813 shares during the quarter. GraniteShares Advisors LLC's holdings in Palantir Technologies were worth $1,449,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA raised its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after buying an additional 111 shares during the period. True Wealth Design LLC raised its position in shares of Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after buying an additional 114 shares during the period. Gemmer Asset Management LLC increased its holdings in Palantir Technologies by 1.6% in the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after purchasing an additional 119 shares during the last quarter. Finally, Westover Capital Advisors LLC increased its holdings in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after purchasing an additional 130 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now owns 592 shares in the company, valued at $51,545.44. This trade represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,816,925 shares of company stock worth $215,448,358. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Up 1.6%

Shares of PLTR traded up $2.21 on Friday, reaching $137.40. The stock had a trading volume of 93,318,005 shares, compared to its average volume of 81,017,198. The firm has a market capitalization of $324.25 billion, a PE ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64. The firm has a 50-day moving average of $115.48 and a 200 day moving average of $94.81. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $140.00.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson lifted their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Loop Capital boosted their target price on Palantir Technologies from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. Mizuho boosted their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday. Finally, Citigroup boosted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Five 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. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average price target of $86.30.

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.