Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 28.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 586,274 shares of the company's stock after selling 237,149 shares during the period. Los Angeles Capital Management LLC's holdings in Palantir Technologies were worth $49,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $450,000. Proficio Capital Partners LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $522,000. Thrivent Financial for Lutherans increased its holdings in Palantir Technologies by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 92,313 shares of the company's stock valued at $6,900,000 after acquiring an additional 657 shares in the last quarter. Holderness Investments Co. purchased a new position in Palantir Technologies during the 4th quarter valued at about $245,000. Finally, Lee Danner & Bass Inc. purchased a new position in Palantir Technologies during the 4th quarter valued at about $38,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wedbush set a $160.00 target price on shares of Palantir Technologies in a research report on Thursday, July 10th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $91.37.

Palantir Technologies Stock Down 0.3%

Shares of Palantir Technologies stock opened at $153.52 on Friday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68. The business's 50 day moving average is $134.33 and its 200-day moving average is $106.36. The stock has a market cap of $362.29 billion, a P/E ratio of 667.48, a P/E/G ratio of 13.11 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm 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 firm posted $0.08 EPS. The company's revenue for the quarter was up 39.4% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares of the company's stock, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the transaction, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last ninety days. 9.23% of the stock is owned by insiders.

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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