Left Brain Wealth Management LLC Sells 9,951 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Left Brain Wealth Management LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,825 shares of the company's stock after selling 9,951 shares during the quarter. Palantir Technologies makes up 4.7% of Left Brain Wealth Management LLC's portfolio, making the stock its 3rd biggest position. Left Brain Wealth Management LLC's holdings in Palantir Technologies were worth $10,873,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies during the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC raised its stake in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $34,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its stake in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after acquiring an additional 370 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 0.3%

PLTR stock traded down $0.40 during mid-day trading on Friday, hitting $142.10. 52,005,962 shares of the company were exchanged, compared to its average volume of 83,326,505. The firm has a market capitalization of $335.34 billion, a P/E ratio of 617.83, a PEG ratio of 12.13 and a beta of 2.59. The business has a fifty day simple moving average of $130.81 and a 200-day simple moving average of $103.81. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22.

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

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,452,297 shares of company stock valued at $186,222,373 over the last quarter. 9.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Mizuho boosted their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $89.32.

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.