Quintet Private Bank Europe S.A. Sells 2,627 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Quintet Private Bank Europe S.A. reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,435 shares of the company's stock after selling 2,627 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Palantir Technologies were worth $628,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC grew its position in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA grew its position in shares of Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after acquiring an additional 111 shares during the last quarter. True Wealth Design LLC grew its position in shares of Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after acquiring an additional 114 shares during the last quarter. Gemmer Asset Management LLC grew its position in shares of Palantir Technologies by 1.6% during the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock worth $639,000 after acquiring an additional 119 shares during the last quarter. Finally, Westover Capital Advisors LLC lifted its holdings in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.6%

Shares of PLTR traded up $2.21 during midday trading on Friday, hitting $137.40. The stock had a trading volume of 93,318,005 shares, compared to its average volume of 80,799,461. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $140.00. The business has a 50-day simple moving average of $114.28 and a two-hundred day simple moving average of $94.12. The firm has a market cap of $324.25 billion, a P/E ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the company posted $0.08 earnings per share. The business's revenue for the quarter was up 39.4% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday. UBS Group increased their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $86.30.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,816,925 shares of company stock worth $215,448,358 over the last ninety days. 9.23% of the stock is currently 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.