Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by LGT Group Foundation

LGT Group Foundation lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,182 shares of the company's stock after selling 4,461 shares during the quarter. LGT Group Foundation's holdings in Palantir Technologies were worth $1,872,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $450,000. Townsquare Capital LLC grew its stake in Palantir Technologies by 29.3% during the 4th quarter. Townsquare Capital LLC now owns 49,157 shares of the company's stock valued at $3,718,000 after purchasing an additional 11,151 shares in the last quarter. Synovus Financial Corp grew its stake in Palantir Technologies by 16.4% during the 4th quarter. Synovus Financial Corp now owns 20,830 shares of the company's stock valued at $1,575,000 after purchasing an additional 2,932 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Palantir Technologies during the 4th quarter worth $459,000. Finally, Mariner LLC grew its holdings in Palantir Technologies by 22.1% during the 4th quarter. Mariner LLC now owns 610,598 shares of the company's stock worth $46,181,000 after acquiring an additional 110,419 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock valued at $196,472,623 in the last ninety days. Insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Bank of America upped their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average price target of $136.61.

Palantir Technologies Stock Up 2.3%

Shares of PLTR stock opened at $186.97 on Wednesday. The business has a 50 day moving average of $147.73 and a two-hundred day moving average of $117.34. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The company has a market cap of $441.23 billion, a P/E ratio of 623.25, a PEG ratio of 10.30 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results 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 company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the firm posted $0.09 earnings per share. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies 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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