Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Capital Market Strategies LLC

Capital Market Strategies LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,998 shares of the company's stock after selling 13,647 shares during the period. Palantir Technologies makes up about 2.1% of Capital Market Strategies LLC's portfolio, making the stock its 7th largest holding. Capital Market Strategies LLC's holdings in Palantir Technologies were worth $3,207,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Palantir Technologies by 17.2% in the first quarter. Versant Capital Management Inc now owns 5,252 shares of the company's stock worth $443,000 after purchasing an additional 772 shares during the period. Kera Capital Partners Inc. acquired a new stake in Palantir Technologies in the first quarter worth approximately $241,000. MassMutual Private Wealth & Trust FSB lifted its position in Palantir Technologies by 52.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,704 shares of the company's stock worth $650,000 after purchasing an additional 2,642 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $2,058,000. Finally, M1 Capital Management LLC bought a new stake in shares of Palantir Technologies during the 4th quarter worth $394,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $4.31 during trading on Friday, reaching $126.63. The stock had a trading volume of 185,234,367 shares, compared to its average volume of 78,767,225. Palantir Technologies Inc. has a 52 week low of $21.01 and a 52 week high of $133.49. The business's 50-day moving average price is $105.90 and its 200 day moving average price is $89.86. The stock has a market capitalization of $298.84 billion, a PE ratio of 666.51, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 quarter in the previous year, the company posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares of the company's stock, valued at $15,993,370.71. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,901,701 shares of company stock worth $370,407,533 in the last quarter. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLTR. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group increased their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and an average target price of $83.95.

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.