Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 modified their holdings of the company. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 8.6% during 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 in the last quarter. Wellington Management Group LLP grew its stake 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 valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its stake in Palantir Technologies by 31.2% during the 4th 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. Finally, Capital World Investors purchased a new stake 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.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a research note on Thursday. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $89.32.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the 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 $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $39,142,477.44. Following the sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,451,497 shares of company stock worth $186,110,685. 9.23% of the stock is owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $0.40 during trading hours on Friday, hitting $142.10. The company had a trading volume of 51,965,514 shares, compared to its average volume of 83,029,774. The company's fifty day moving average is $130.45 and its 200 day moving average is $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 $335.34 billion, a PE ratio of 617.83, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the business posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.