Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Nvwm LLC

Key Points

• Nvwm LLC reduced its holdings in Palantir Technologies by 38.2%, holding 8,003 shares valued at approximately $675,000 after selling 4,937 shares.
• Several institutional investors increased their positions in Palantir, with Geode Capital Management raising its stake by 8.6%, now owning shares worth nearly $3.93 billion.
• Palantir Technologies has a consensus rating of "Hold" from analysts, with an average price target of $95.30 despite mixed ratings, including four sell ratings and five buy ratings.

Nvwm LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,003 shares of the company's stock after selling 4,937 shares during the quarter. Nvwm LLC's holdings in Palantir Technologies were worth $675,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. FMR LLC raised its stake in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Palantir Technologies by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after purchasing an additional 187,860 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Wedbush set a $160.00 price target on shares of Palantir Technologies in a report on Thursday, July 10th. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $95.30.

Palantir Technologies Stock Up 2.5%

Palantir Technologies stock opened at $158.80 on Friday. The firm has a market capitalization of $374.75 billion, a PE ratio of 690.43, a P/E/G ratio of 13.22 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $160.39. The firm's 50-day simple moving average is $137.03 and its 200 day simple moving average is $108.85.

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

Insider Activity

In other news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction on 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 sale, the insider directly owned 6,432,258 shares in the company, 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. Over the last three months, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is owned by corporate 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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