Rational Advisors Inc. Has $661,000 Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Rational Advisors Inc. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,826 shares of the company's stock after selling 3,012 shares during the quarter. Rational Advisors Inc.'s holdings in Palantir Technologies were worth $661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $253,816,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PLTR shares. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Mizuho upped their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Five equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $90.37.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction 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 completion of the sale, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,452,297 shares of company stock valued at $186,222,373. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 0.4%

NASDAQ PLTR traded down $0.57 on Tuesday, reaching $148.58. 58,905,136 shares of the stock traded hands, compared to its average volume of 96,689,023. The firm's fifty day simple moving average is $131.31 and its 200 day simple moving average is $104.45. The company has a market cap of $350.64 billion, a price-to-earnings ratio of 646.00, a P/E/G ratio of 12.13 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $150.62.

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

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.