Intellus Advisors LLC Sells 1,921 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Intellus Advisors LLC reduced its stake in Palantir Technologies by 4.7% in the first quarter, owning 39,285 shares valued at approximately $3.3 million, making it the firm's 29th largest holding.
• Several institutions, including Assenagon Asset Management and Sagespring Wealth Partners, increased their stakes in Palantir, indicating a mixed interest from the investment community.
• Wall Street analysts have a consensus rating of "Hold" on Palantir stock, with a notable upgrade from Mizuho, raising their price target from $116 to $135.

Intellus Advisors LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 39,285 shares of the company's stock after selling 1,921 shares during the period. Palantir Technologies comprises approximately 0.6% of Intellus Advisors LLC's portfolio, making the stock its 29th biggest holding. Intellus Advisors LLC's holdings in Palantir Technologies were worth $3,316,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares during the last quarter. Garrison Bradford & Associates Inc. acquired a new stake in Palantir Technologies during the first quarter worth about $45,000. Pitcairn Co. acquired a new stake in Palantir Technologies during the fourth quarter worth about $281,000. Sagespring Wealth Partners LLC grew its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $62,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated 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 transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $0.92 during trading hours on Monday, hitting $157.88. 63,721,509 shares of the company's stock were exchanged, compared to its average volume of 93,832,938. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.39. The stock has a market capitalization of $372.58 billion, a price-to-earnings ratio of 686.43, a PEG ratio of 13.54 and a beta of 2.59. The company's 50-day moving average price is $137.03 and its 200-day moving average price is $109.42.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business 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 firm earned $0.08 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on PLTR shares. Daiwa Capital Markets started 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. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $95.30.

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.