Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by MRA Advisory Group

MRA Advisory Group lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 52.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,849 shares of the company's stock after selling 5,246 shares during the period. MRA Advisory Group's holdings in Palantir Technologies were worth $409,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of Palantir Technologies in the fourth quarter worth $289,000. Union Bancaire Privee UBP SA acquired a new position in Palantir Technologies in the 4th quarter valued at about $15,177,000. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies in the 4th quarter valued at about $450,000. Trust Point Inc. acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $419,000. Finally, Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after buying an additional 448 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLTR. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. DA Davidson upped their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley upped 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. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Stock Performance

PLTR stock opened at $119.91 on Friday. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $135.28. The firm has a market cap of $282.98 billion, a P/E ratio of 631.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The stock has a 50-day simple moving average of $109.15 and a 200-day simple moving average of $91.71.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the company earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $50,497.60. This trade represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,894,925 shares of company stock valued at $369,820,528. Corporate insiders own 9.23% of the company's stock.

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.

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