Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Marietta Investment Partners LLC

Key Points

• Marietta Investment Partners LLC reduced its holdings in Palantir Technologies by 10.9%, selling 8,348 shares, and now owns 68,499 shares valued at approximately $5.78 million.
• Insider Alexander C. Karp sold 358,982 shares at an average price of $126.39, marking a 5.29% decrease in his ownership, with total insider sales amounting to over $191 million in the last three months.
• Analysts maintain a consensus rating of "Hold" for Palantir Technologies, with a target price of $95.30, and recent price adjustments by firms like Goldman Sachs and Morgan Stanley suggest varied outlooks on its stock performance.

Marietta Investment Partners LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,499 shares of the company's stock after selling 8,348 shares during the period. Palantir Technologies makes up 1.4% of Marietta Investment Partners LLC's holdings, making the stock its 24th largest position. Marietta Investment Partners LLC's holdings in Palantir Technologies were worth $5,781,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PLTR. GLOBALT Investments LLC GA grew its stake in shares of Palantir Technologies by 7.4% during the first quarter. GLOBALT Investments LLC GA now owns 36,220 shares of the company's stock worth $3,057,000 after acquiring an additional 2,493 shares during the last quarter. Angeles Wealth Management LLC lifted its position in Palantir Technologies by 25.8% during the 1st quarter. Angeles Wealth Management LLC now owns 5,413 shares of the company's stock worth $457,000 after acquiring an additional 1,110 shares during the period. Mediolanum International Funds Ltd grew its stake in Palantir Technologies by 2.5% during the 1st quarter. Mediolanum International Funds Ltd now owns 338,827 shares of the company's stock valued at $29,088,000 after purchasing an additional 8,121 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at about $1,530,000. Finally, Stevens Capital Management LP increased its holdings in shares of Palantir Technologies by 2,453.1% in the first quarter. Stevens Capital Management LP now owns 87,700 shares of the company's stock valued at $7,402,000 after purchasing an additional 84,265 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the sale, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% 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 in the last three months. Company insiders own 9.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PLTR shares. The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley lifted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" 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 five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Trading Up 2.5%

Shares of PLTR stock opened at $158.80 on Friday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39. The business's 50 day moving average is $137.03 and its two-hundred day moving average is $108.85. The company has a market capitalization of $374.75 billion, a P/E ratio of 690.43, a P/E/G ratio of 13.22 and a beta of 2.59.

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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The business's quarterly revenue was up 39.4% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share 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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