Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,430 shares of the company's stock after selling 2,020 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in Palantir Technologies were worth $374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $33,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $34,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares in the last quarter. Godsey & Gibb Inc. grew its stake in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 0.3%

NASDAQ:PLTR traded down $0.40 during trading hours on Friday, reaching $142.10. 52,005,962 shares of the stock were exchanged, compared to its average volume of 83,116,242. The firm has a 50 day simple moving average of $130.81 and a 200-day simple moving average of $103.66. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The stock has a market capitalization of $335.34 billion, a P/E ratio of 617.83, a P/E/G ratio of 12.16 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the business posted $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLTR. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This represents a 81.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider owned 363,755 shares in the company, valued at $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,452,297 shares of company stock worth $186,222,373. Corporate insiders own 9.23% of the company's stock.

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.