Raleigh Capital Management Inc. Sells 2,019 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Raleigh Capital Management Inc. decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 45.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,385 shares of the company's stock after selling 2,019 shares during the quarter. Raleigh Capital Management Inc.'s holdings in Palantir Technologies were worth $201,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wood Tarver Financial Group LLC grew its position in shares of Palantir Technologies by 10.7% during the first quarter. Wood Tarver Financial Group LLC now owns 3,679 shares of the company's stock worth $311,000 after purchasing an additional 356 shares in the last quarter. Callan Capital LLC grew its position in shares of Palantir Technologies by 43.5% during the first quarter. Callan Capital LLC now owns 4,816 shares of the company's stock worth $406,000 after purchasing an additional 1,461 shares in the last quarter. BOCHK Asset Management Ltd grew its position in shares of Palantir Technologies by 24.5% during the first quarter. BOCHK Asset Management Ltd now owns 23,900 shares of the company's stock worth $2,017,000 after purchasing an additional 4,700 shares in the last quarter. Capital Advisors Inc. OK grew its position in shares of Palantir Technologies by 12.3% during the first quarter. Capital Advisors Inc. OK now owns 24,941 shares of the company's stock worth $2,105,000 after purchasing an additional 2,722 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Palantir Technologies by 58.0% during the first quarter. Envestnet Asset Management Inc. now owns 936,286 shares of the company's stock worth $79,023,000 after purchasing an additional 343,874 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $0.40 during trading on Friday, reaching $142.10. 52,005,962 shares of the company's stock were exchanged, compared to its average volume of 83,116,242. The company's 50-day moving average is $130.81 and its two-hundred day moving average is $103.66. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The firm has a market cap of $335.34 billion, a price-to-earnings ratio of 617.83, a PEG ratio of 12.16 and a beta of 2.59.

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 analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. Analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the transaction, the insider directly owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock valued at $186,222,373 over the last quarter. Corporate insiders own 9.23% of the company's stock.

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.