Palantir Technologies Inc. (NASDAQ:PLTR) Stake Reduced by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 448,602 shares of the company's stock after selling 243,976 shares during the quarter. Palantir Technologies accounts for approximately 4.3% of Van Cleef Asset Management Inc's holdings, making the stock its 5th biggest position. Van Cleef Asset Management Inc's holdings in Palantir Technologies were worth $37,862,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $450,000. Assetmark Inc. lifted its holdings in Palantir Technologies by 46.3% in the 4th quarter. Assetmark Inc. now owns 1,191 shares of the company's stock worth $90,000 after purchasing an additional 377 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $522,000. PNC Financial Services Group Inc. lifted its holdings in Palantir Technologies by 128.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 245,032 shares of the company's stock worth $18,532,000 after purchasing an additional 137,577 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $560,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 0.6%

Shares of NASDAQ PLTR traded down $0.92 during mid-day trading on Thursday, reaching $142.21. 43,471,638 shares of the company were exchanged, compared to its average volume of 82,917,000. The stock has a market cap of $335.61 billion, a price-to-earnings ratio of 617.72, a P/E/G ratio of 11.93 and a beta of 2.59. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22. The firm has a 50-day moving average of $129.92 and a 200 day moving average of $102.83.

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 for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the business posted $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLTR shares. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a research report on Thursday. Finally, DA Davidson upped their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average target price of $89.32.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 30,812 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is owned by company insiders.

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.