Strategic Advocates LLC Has $3.56 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Strategic Advocates LLC has reduced its stake in Palantir Technologies by 42.6%, now holding 42,202 shares valued at $3,562,000, making it the firm’s 16th largest investment.
• Palantir Technologies reported a year-over-year revenue growth of 39.4%, with earnings per share meeting expectations at $0.13.
• Insiders have sold over 1.4 million shares in the last three months, representing a total value of approximately $191 million.

Strategic Advocates LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 42.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 42,202 shares of the company's stock after selling 31,379 shares during the quarter. Palantir Technologies comprises approximately 1.2% of Strategic Advocates LLC's holdings, making the stock its 16th largest holding. Strategic Advocates LLC's holdings in Palantir Technologies were worth $3,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $25,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter valued at approximately $33,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after acquiring an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its position in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 2.6%

NASDAQ PLTR traded down $4.08 during trading on Friday, reaching $154.27. 60,986,881 shares of the company's stock were exchanged, compared to its average volume of 52,655,748. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $160.89. The firm has a market capitalization of $364.06 billion, a PE ratio of 670.74, a P/E/G ratio of 13.50 and a beta of 2.60. The company's fifty day simple moving average is $140.37 and its 200-day simple moving average is $111.96.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting 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 return on equity of 6.55% and a net margin of 18.32%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital increased their target price on Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $96.45.

Insider Buying and Selling

In other news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business'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 $45,371,734.98. Following the sale, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is currently 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.