Patriot Financial Group Insurance Agency LLC Sells 6,121 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Patriot Financial Group Insurance Agency LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,690 shares of the company's stock after selling 6,121 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Palantir Technologies were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC grew its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the period. Heritage Wealth Management Inc. CA boosted its holdings in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the last quarter. True Wealth Design LLC grew its position in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the period. Gemmer Asset Management LLC raised its stake in Palantir Technologies by 1.6% during the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after buying an additional 119 shares during the last quarter. Finally, Westover Capital Advisors LLC raised its stake in Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after buying an additional 130 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PLTR shares. Mizuho boosted their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup increased their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, UBS Group lifted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Stock Up 6.5%

Palantir Technologies stock opened at $127.72 on Monday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $135.28. The firm's fifty day moving average is $110.01 and its 200 day moving average is $92.58. The company has a market cap of $301.41 billion, a price-to-earnings ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64.

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

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 3,936 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the transaction, the insider now owns 363,755 shares of the company's stock, valued at $45,822,217.35. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock worth $369,820,528 over the last three months. 9.23% of the stock is owned by insiders.

Palantir Technologies Company 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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