Venturi Wealth Management LLC Cuts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Venturi Wealth Management LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,679 shares of the company's stock after selling 8,987 shares during the period. Venturi Wealth Management LLC's holdings in Palantir Technologies were worth $986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. SYM FINANCIAL Corp bought a new position in shares of Palantir Technologies during the first quarter valued at $238,000. Oak Thistle LLC raised its stake in shares of Palantir Technologies by 75.1% during the first quarter. Oak Thistle LLC now owns 34,407 shares of the company's stock valued at $2,904,000 after acquiring an additional 14,760 shares during the last quarter. Efficient Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter valued at $583,000. NCP Inc. bought a new position in shares of Palantir Technologies during the first quarter valued at $316,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Palantir Technologies by 6.2% during the first quarter. Proficio Capital Partners LLC now owns 7,332 shares of the company's stock valued at $619,000 after acquiring an additional 425 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 2.5%

Shares of NASDAQ PLTR traded up $3.94 during midday trading on Friday, hitting $158.80. The company's stock had a trading volume of 57,707,820 shares, compared to its average volume of 94,045,836. The stock has a fifty day moving average price of $136.44 and a 200 day moving average price of $108.24. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.39. The firm has a market capitalization of $374.75 billion, a price-to-earnings ratio of 690.43, a P/E/G ratio of 13.20 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the sale, the insider directly owned 363,755 shares in the company, valued at approximately $54,563,250. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 in the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PLTR shares. Piper Sandler started coverage on shares of Palantir Technologies in a research report on Friday. They set an "overweight" rating and a $170.00 price objective for the company. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" 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. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average target price of $95.30.

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.