Triumph Capital Management Sells 41,712 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Triumph Capital Management reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 60.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,819 shares of the company's stock after selling 41,712 shares during the period. Palantir Technologies makes up approximately 0.7% of Triumph Capital Management's holdings, making the stock its 28th largest holding. Triumph Capital Management's holdings in Palantir Technologies were worth $2,028,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Roxbury Financial LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth $28,000. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $31,000. Finally, R Squared Ltd purchased a new stake in Palantir Technologies during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather A. Planishek acquired 10,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the acquisition, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. This trade represents a 20.83% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,964,290 shares of company stock worth $250,504,866 in the last quarter. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 2.5%

Shares of Palantir Technologies stock traded down $3.19 during midday trading on Monday, hitting $126.33. The company's stock had a trading volume of 72,243,140 shares, compared to its average volume of 77,016,016. Palantir Technologies Inc. has a 1-year low of $20.63 and a 1-year high of $133.49. The firm has a market capitalization of $296.29 billion, a P/E ratio of 664.93, a PEG ratio of 10.84 and a beta of 2.68. The stock has a 50-day simple moving average of $98.72 and a 200-day simple moving average of $85.43.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. UBS Group raised their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Loop Capital increased their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.95.

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.