Sentry Investment Management LLC Sells 9,601 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sentry Investment Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 64.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,274 shares of the company's stock after selling 9,601 shares during the quarter. Sentry Investment Management LLC's holdings in Palantir Technologies were worth $411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $27,000. HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. R Squared Ltd acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% 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, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock valued at $369,820,528 over the last 90 days. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

PLTR traded down $10.10 during midday trading on Thursday, hitting $119.91. The company had a trading volume of 129,811,838 shares, compared to its average volume of 79,615,657. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $135.28. The company has a market capitalization of $282.98 billion, a PE ratio of 631.14, a P/E/G ratio of 10.84 and a beta of 2.64. The firm's 50-day simple moving average is $108.44 and its 200-day simple moving average is $91.31.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research reports. The Goldman Sachs Group raised their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital raised their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, UBS Group raised their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $83.95.

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.