Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association has reduced its stake in Palantir Technologies by 33.6%, now holding 36,765 shares worth approximately $3.10 million.
• Insider transactions revealed significant sales, with Director Eric H. Woersching selling 10,214 shares and Shyam Sankar selling 405,000 shares, indicating a notable decrease in their stock positions.
• Palantir Technologies has recently experienced a 4.1% increase in stock value, fluctuating between a one-year low of $21.23 and a high of $161.40, while analysts have varied ratings and price targets for the stock.

TIAA Trust National Association lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,765 shares of the company's stock after selling 18,616 shares during the period. TIAA Trust National Association's holdings in Palantir Technologies were worth $3,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the last quarter. Sovran Advisors LLC raised its position in Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. Lodestone Wealth Management LLC raised its position in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the last quarter. Continuum Advisory LLC boosted its stake in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the period. Finally, Kathmere Capital Management LLC grew its position in Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after purchasing an additional 99 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ PLTR traded up $2.58 on Thursday, reaching $182.12. The company had a trading volume of 70,400,192 shares, compared to its average volume of 92,511,617. The firm has a market capitalization of $429.78 billion, a price-to-earnings ratio of 607.07, a price-to-earnings-growth ratio of 14.08 and a beta of 2.60. The company's fifty day moving average is $143.23 and its 200-day moving average is $114.06. Palantir Technologies Inc. has a 1-year low of $26.69 and a 1-year high of $184.48.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. The trade was a 81.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares in the company, valued at $8,779,654.07. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research report on Tuesday. Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Citigroup boosted their target price on Palantir Technologies from $158.00 to $177.00 and gave the stock a "neutral" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $136.61.

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.