Sequoia Financial Advisors LLC Acquires 3,080 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sequoia Financial Advisors LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,808 shares of the company's stock after purchasing an additional 3,080 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Palantir Technologies were worth $24,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Assenagon Asset Management S.A. raised its position in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. bought a new stake in Palantir Technologies in the fourth quarter worth about $281,000. Sagespring Wealth Partners LLC raised its position in Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Palantir Technologies in the fourth quarter worth about $52,033,000. Finally, CX Institutional bought a new stake in Palantir Technologies in the first quarter worth about $62,000. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now directly owns 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. Insiders sold 1,506,925 shares of company stock valued at $188,456,658 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 9.4%

Palantir Technologies stock traded down $13.51 during trading hours on Friday, reaching $130.74. 200,764,922 shares of the company were exchanged, compared to its average volume of 82,235,403. The firm has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a PEG ratio of 12.31 and a beta of 2.64. The stock has a 50-day moving average of $125.24 and a 200 day moving average of $99.44. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on PLTR shares. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho boosted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $89.32.

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.