Palantir Technologies Inc. (NASDAQ:PLTR) Holdings Cut by Sharpepoint LLC

Sharpepoint LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 81.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,079 shares of the company's stock after selling 40,014 shares during the period. Sharpepoint LLC's holdings in Palantir Technologies were worth $766,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Cornerstone Planning Group LLC increased its stake in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the period. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the first quarter worth about $33,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the last quarter. Godsey & Gibb Inc. grew its stake in Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Finally, Arlington Trust Co LLC increased its holdings in Palantir Technologies by 542.9% during the 1st quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies 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 $39,142,477.44. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the business'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 sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Citigroup raised their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Mizuho increased their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies 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 data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $89.32.

Palantir Technologies Trading Down 0.4%

Palantir Technologies stock traded down $0.63 during midday trading on Thursday, reaching $142.50. 64,227,973 shares of the stock traded hands, compared to its average volume of 83,153,909. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The firm has a market cap of $336.29 billion, a price-to-earnings ratio of 1,192.75, a PEG ratio of 12.22 and a beta of 2.59. The firm has a fifty day moving average price of $129.92 and a two-hundred day moving average price of $102.83.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for 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 business's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.