Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC reduced its holdings in Palantir Technologies Inc. by 18.7% during the first quarter, resulting in ownership of 55,330 shares valued at approximately $4.67 million.
• Several large investors have modified their stakes in Palantir, with the company's stock being 45.65% owned by institutional investors.
• Palantir Technologies recently reported a quarterly earnings beat, with $1 billion in revenue and an EPS of $0.16, reflecting a 48% year-over-year increase.

Horizon Investments LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,330 shares of the company's stock after selling 12,740 shares during the period. Horizon Investments LLC's holdings in Palantir Technologies were worth $4,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Allegiance Financial Group Advisory Services LLC lifted its stake in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the last quarter. Sovran Advisors LLC lifted its stake in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. Lodestone Wealth Management LLC lifted its stake in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in shares of Palantir Technologies by 0.5% in the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. This represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 1,515,632 shares of company stock worth $196,472,623. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

PLTR opened at $181.02 on Friday. Palantir Technologies Inc. has a one year low of $29.31 and a one year high of $190.00. The company has a market cap of $427.19 billion, a P/E ratio of 603.42, a PEG ratio of 10.39 and a beta of 2.60. The business's 50-day simple moving average is $150.04 and its 200-day simple moving average is $118.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Bank of America upped their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Loop Capital boosted their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Company Profile

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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