Three Bridge Wealth Advisors LLC Sells 9,740 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Three Bridge Wealth Advisors LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,481 shares of the company's stock after selling 9,740 shares during the period. Palantir Technologies accounts for about 0.7% of Three Bridge Wealth Advisors LLC's investment portfolio, making the stock its 29th largest position. Three Bridge Wealth Advisors LLC's holdings in Palantir Technologies were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Mechanics Financial Corp acquired a new position in Palantir Technologies during the first quarter worth about $25,000. Richardson Capital Management LLC purchased a new stake in Palantir Technologies during the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC increased its holdings in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the period. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $34,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of 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 quarter, insiders have sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is owned by company insiders.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $3.94 on Friday, reaching $158.80. The company had a trading volume of 57,707,820 shares, compared to its average volume of 64,807,624. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $160.39. The firm has a market capitalization of $374.75 billion, a PE ratio of 690.43, a P/E/G ratio of 13.22 and a beta of 2.59. The firm has a 50-day moving average of $137.03 and a 200-day moving average of $108.85.

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, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Piper Sandler assumed coverage on Palantir Technologies in a report on Friday. They set an "overweight" rating and a $170.00 price objective for the company. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $95.30.

Palantir Technologies Company 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.