Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Trust Asset Management LLC

Key Points

• Trust Asset Management LLC reduced its holdings in Palantir Technologies by 8.3%, selling 2,144 shares and owning 23,662 shares, valued at $1,997,000.
• Insider transactions reveal that David A. Glazer and Shyam Sankar have sold significant shares, with Glazer selling 3,418 shares and Sankar selling 405,000 shares.
• A range of analysts have updated their price targets for Palantir, with Wedbush setting a target of $200, while Goldman Sachs raised theirs from $90 to $141, reflecting a positive outlook on the stock.

Trust Asset Management LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,662 shares of the company's stock after selling 2,144 shares during the quarter. Trust Asset Management LLC's holdings in Palantir Technologies were worth $1,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its stake in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the period. Invesco Ltd. increased its stake in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. increased its stake in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after buying an additional 571,544 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after buying an additional 187,860 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,515,632 shares of company stock worth $196,472,623. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on PLTR shares. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada increased their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $186.96 on Monday. The stock has a market cap of $441.21 billion, a P/E ratio of 623.22, a P/E/G ratio of 10.54 and a beta of 2.60. The firm has a fifty day moving average price of $145.64 and a 200 day moving average price of $116.13. Palantir Technologies Inc. has a 1-year low of $29.10 and a 1-year high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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