Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Westend Capital Management LLC

Westend Capital Management LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 99.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633 shares of the company's stock after selling 267,923 shares during the period. Westend Capital Management LLC's holdings in Palantir Technologies were worth $53,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $1,360,191,000. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 4,127,306 shares during the period. Wellington Management Group LLP raised its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Invesco Ltd. raised its holdings in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $130.74 on Friday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The business has a 50 day simple moving average of $125.24 and a 200 day simple moving average of $99.44. The firm has a market capitalization of $308.53 billion, a P/E ratio of 568.43, a P/E/G ratio of 12.31 and a beta of 2.64.

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, 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 company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PLTR shares. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday. Citigroup lifted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $89.32.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider now owns 702,786 shares of the company's stock, valued at approximately $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 quarter, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by company insiders.

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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