Trifecta Capital Advisors LLC Has $6.82 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Trifecta Capital Advisors LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,775 shares of the company's stock after selling 29,269 shares during the quarter. Palantir Technologies makes up approximately 1.4% of Trifecta Capital Advisors LLC's portfolio, making the stock its 22nd biggest position. Trifecta Capital Advisors LLC's holdings in Palantir Technologies were worth $6,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Blue Trust Inc. increased its stake in shares of Palantir Technologies by 5.3% in the first quarter. Blue Trust Inc. now owns 17,319 shares of the company's stock valued at $1,462,000 after buying an additional 865 shares during the period. Curran Financial Partners LLC bought a new stake in Palantir Technologies in the first quarter valued at approximately $227,000. Autumn Glory Partners LLC bought a new stake in Palantir Technologies in the first quarter valued at approximately $338,000. ORG Wealth Partners LLC increased its position in Palantir Technologies by 1,756.9% during the 1st quarter. ORG Wealth Partners LLC now owns 33,758 shares of the company's stock valued at $2,859,000 after purchasing an additional 31,940 shares during the period. Finally, Trivant Custom Portfolio Group LLC lifted its position in shares of Palantir Technologies by 64.5% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,020 shares of the company's stock worth $86,000 after purchasing an additional 400 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson raised their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group lifted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Performance

PLTR opened at $139.96 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The firm has a 50-day moving average of $118.64 and a 200 day moving average of $96.13. The firm has a market cap of $330.29 billion, a P/E ratio of 608.52, a PEG ratio of 11.66 and a beta of 2.64.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. 9.23% of the stock is currently owned by company insiders.

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.

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