International Assets Investment Management LLC Sells 10,705 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

International Assets Investment Management LLC cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 179,225 shares of the company's stock after selling 10,705 shares during the quarter. Palantir Technologies accounts for 0.4% of International Assets Investment Management LLC's portfolio, making the stock its 18th largest position. International Assets Investment Management LLC's holdings in Palantir Technologies were worth $15,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Cornerstone Wealth Group LLC lifted its stake in Palantir Technologies by 8.3% during the first quarter. Cornerstone Wealth Group LLC now owns 4,341 shares of the company's stock valued at $366,000 after buying an additional 331 shares in the last quarter. Petros Family Wealth LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth $273,000. YHB Investment Advisors Inc. boosted its position in Palantir Technologies by 115.0% during the first quarter. YHB Investment Advisors Inc. now owns 8,438 shares of the company's stock valued at $712,000 after purchasing an additional 4,513 shares during the last quarter. Embree Financial Group grew its stake in shares of Palantir Technologies by 6.0% in the 1st quarter. Embree Financial Group now owns 25,715 shares of the company's stock valued at $2,170,000 after buying an additional 1,449 shares in the last quarter. Finally, Mascagni Wealth Management Inc. increased its stake in shares of Palantir Technologies by 155.5% during the 1st quarter. Mascagni Wealth Management Inc. now owns 27,209 shares of the company's stock worth $2,296,000 after purchasing an additional 16,560 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 0.2%

PLTR stock traded down $0.33 during midday trading on Wednesday, reaching $142.90. The stock had a trading volume of 61,226,838 shares, compared to its average volume of 81,189,576. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $147.59. The firm has a market cap of $337.23 billion, a price-to-earnings ratio of 621.30, a PEG ratio of 11.94 and a beta of 2.64. The business has a fifty day simple moving average of $122.49 and a two-hundred day simple moving average of $98.22.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $89.32.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the company's 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 completion of the sale, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the transaction, the director now owns 12,562 shares of the company's stock, valued at approximately $1,624,140.98. This represents a 57.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,506,925 shares of company stock worth $188,456,658. 12.93% of the stock is owned by insiders.

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.