Sheets Smith Wealth Management Has $536,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sheets Smith Wealth Management lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,352 shares of the company's stock after selling 6,317 shares during the period. Sheets Smith Wealth Management's holdings in Palantir Technologies were worth $536,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PLTR. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth $1,360,191,000. Geode Capital Management LLC increased its position in 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 purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its position in 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 purchasing an additional 3,907,022 shares during the period. Invesco Ltd. raised its holdings 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 purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors acquired a new position in Palantir Technologies during the 4th quarter valued at about $253,816,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 0.9%

PLTR traded up $1.35 during trading on Thursday, hitting $144.25. The company had a trading volume of 69,288,054 shares, compared to its average volume of 81,348,306. The company has a market capitalization of $340.42 billion, a PE ratio of 627.17, a PEG ratio of 12.23 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.06. The firm's 50-day moving average price is $123.49 and its 200 day moving average price is $98.53.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PLTR shares. Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $89.32.

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.