Stratos Wealth Advisors LLC Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Stratos Wealth Advisors LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,136 shares of the company's stock after selling 17,982 shares during the period. Stratos Wealth Advisors LLC's holdings in Palantir Technologies were worth $2,206,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new position in Palantir Technologies during the 4th quarter worth $450,000. Assetmark Inc. grew its stake in Palantir Technologies by 46.3% during the 4th quarter. Assetmark Inc. now owns 1,191 shares of the company's stock worth $90,000 after buying an additional 377 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Palantir Technologies during the 4th quarter worth $522,000. PNC Financial Services Group Inc. grew its stake in Palantir Technologies by 128.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 245,032 shares of the company's stock worth $18,532,000 after buying an additional 137,577 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in Palantir Technologies during the 4th quarter worth $560,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Down 0.4%

Shares of Palantir Technologies stock traded down $0.63 during mid-day trading on Thursday, reaching $142.50. 64,227,973 shares of the stock traded hands, compared to its average volume of 83,153,909. The business has a 50-day moving average of $130.45 and a 200 day moving average of $103.25. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The stock has a market capitalization of $336.29 billion, a PE ratio of 619.57, a PEG ratio of 12.22 and a beta of 2.59.

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

Analysts Set New Price Targets

Several research firms have weighed in on PLTR. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets began 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. Mizuho boosted their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald boosted their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, 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.