Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,096 shares of the company's stock after selling 24,583 shares during the period. Palantir Technologies makes up about 1.7% of Patton Fund Management Inc.'s holdings, making the stock its 10th biggest position. Patton Fund Management Inc.'s holdings in Palantir Technologies were worth $7,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Geode Capital Management LLC raised its position in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp increased its stake in shares of Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $1,360,191,000. FMR LLC raised its holdings in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric H. Woersching sold 17,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the sale, the director now directly owns 12,562 shares of the company's stock, valued at $1,624,140.98. The trade was a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLTR shares. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five 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 data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Trading Up 1.3%

Shares of PLTR stock traded up $1.76 during trading hours on Wednesday, hitting $139.96. The company's stock had a trading volume of 58,100,428 shares, compared to its average volume of 81,096,948. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The stock has a market cap of $330.29 billion, a price-to-earnings ratio of 608.52, a P/E/G ratio of 11.66 and a beta of 2.64. The business has a fifty day moving average of $117.68 and a 200-day moving average of $95.83.

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

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.