Park Square Financial Group LLC Sells 2,352 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Park Square Financial Group LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 65.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,246 shares of the company's stock after selling 2,352 shares during the period. Park Square Financial Group LLC's holdings in Palantir Technologies were worth $105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $1,360,191,000. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $253,816,000. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Mizuho upped their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling

In related news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares in the company, valued at $62,625,865.83. This trade represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock worth $186,222,373 over the last 90 days. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $142.10 on Friday. The firm's fifty day moving average price is $130.81 and its 200-day moving average price is $103.66. The stock has a market cap of $335.34 billion, a P/E ratio of 617.83, a price-to-earnings-growth ratio of 12.16 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

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, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for 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%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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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