Spirepoint Private Client LLC Sells 11,782 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Spirepoint Private Client LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 212,715 shares of the company's stock after selling 11,782 shares during the period. Palantir Technologies comprises 2.3% of Spirepoint Private Client LLC's portfolio, making the stock its 5th biggest position. Spirepoint Private Client LLC's holdings in Palantir Technologies were worth $17,953,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of 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 last quarter. Northern Trust Corp grew its stake in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $1,360,191,000. FMR LLC raised its stake in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the business'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 transaction of $53,492,400.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now directly owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLTR. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup increased their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Finally, Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Down 0.2%

Shares of NASDAQ:PLTR traded down $0.34 during trading on Wednesday, reaching $142.90. 54,533,306 shares of the company's stock traded hands, compared to its average volume of 81,188,210. The firm has a market cap of $337.22 billion, a PE ratio of 621.28, a P/E/G ratio of 11.94 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $147.59. The company has a 50-day simple moving average of $122.49 and a 200-day simple moving average of $98.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The business's quarterly revenue was up 39.4% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.