Sharpepoint LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sharpepoint LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 81.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter worth $1,360,191,000. Geode Capital Management LLC grew its position in Palantir Technologies by 8.6% during the 4th 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 during the last quarter. Wellington Management Group LLP grew its position in Palantir Technologies by 504.0% during the 4th 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 during the last quarter. Invesco Ltd. grew its position in Palantir Technologies by 31.2% during the 4th 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 during the last quarter. Finally, Capital World Investors bought a new stake in Palantir Technologies during the 4th quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 35,480 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 transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares of the company's stock, valued at $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,451,497 shares of company stock valued at $186,110,685. Company insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the company 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 company an "underperform" rating in a research note on Wednesday, June 11th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Finally, Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $0.24 during trading on Friday, hitting $142.74. 39,496,852 shares of the company were exchanged, compared to its average volume of 96,989,734. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.21. The company has a market cap of $336.86 billion, a PE ratio of 620.63, a P/E/G ratio of 12.22 and a beta of 2.59. The stock has a 50 day moving average of $130.45 and a 200 day moving average of $103.25.

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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the business posted $0.08 earnings per share. The company's revenue for the quarter was up 39.4% on a year-over-year basis. Sell-side 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.