Rakuten Securities Inc. Sells 136,079 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Rakuten Securities Inc. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 59.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,274 shares of the company's stock after selling 136,079 shares during the quarter. Palantir Technologies comprises about 4.0% of Rakuten Securities Inc.'s investment portfolio, making the stock its 4th biggest holding. Rakuten Securities Inc.'s holdings in Palantir Technologies were worth $7,957,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wagner Wealth Management LLC bought a new stake in Palantir Technologies during the first quarter worth approximately $246,000. Chicago Capital LLC boosted its holdings in Palantir Technologies by 68.7% during the first quarter. Chicago Capital LLC now owns 244,883 shares of the company's stock worth $20,668,000 after buying an additional 99,728 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Palantir Technologies by 4.0% during the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 130,328 shares of the company's stock worth $11,000,000 after buying an additional 5,058 shares in the last quarter. Vivid Wealth Management LLC bought a new stake in Palantir Technologies during the first quarter worth approximately $2,095,000. Finally, Vista Investment Partners LLC boosted its holdings in Palantir Technologies by 17.4% during the first quarter. Vista Investment Partners LLC now owns 9,037 shares of the company's stock worth $763,000 after buying an additional 1,338 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PLTR shares. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald raised their price objective 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. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $86.30.

Palantir Technologies Stock Up 2.9%

PLTR stock opened at $141.41 on Tuesday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86. The company has a market cap of $333.72 billion, a price-to-earnings ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64. The company has a 50 day moving average of $116.76 and a two-hundred day moving average of $95.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) 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 company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company's revenue was up 39.4% compared to the same quarter last year. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on 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 owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction 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 in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.