Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Reduced by Edge Wealth Management LLC

Edge Wealth Management LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,254 shares of the company's stock after selling 4,889 shares during the period. Edge Wealth Management LLC's holdings in Palantir Technologies were worth $528,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PLTR. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $34,000. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 39,825 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $810,271,540.26. The trade was a 0.62% 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 Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the transaction, the insider now owns 592 shares in the company, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,894,925 shares of company stock worth $369,820,528. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $119.91 on Friday. The stock's 50-day moving average is $109.15 and its two-hundred day moving average is $91.71. The firm has a market cap of $282.98 billion, a P/E ratio of 631.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28.

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

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. 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. Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. UBS Group boosted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, DA Davidson raised their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.

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