Tyler Stone Wealth Management Sells 15,138 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Tyler Stone Wealth Management reduced its stake in Palantir Technologies by 8.1%, selling 15,138 shares and now holds 172,130 shares, accounting for 2.6% of its investment portfolio.
• Palantir Technologies has seen significant interest from institutional investors, with ownership rising to 45.65% among them, highlighting ongoing market confidence.
• Analysts have set varied price targets for Palantir, with recommendations spanning from "underperform" to "buy", resulting in an average target price of $136.61.

Tyler Stone Wealth Management lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,130 shares of the company's stock after selling 15,138 shares during the quarter. Palantir Technologies accounts for about 2.6% of Tyler Stone Wealth Management's investment portfolio, making the stock its 6th biggest holding. Tyler Stone Wealth Management's holdings in Palantir Technologies were worth $14,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $450,000. XTX Topco Ltd acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $328,000. Gabelli Funds LLC acquired a new position in Palantir Technologies during the fourth quarter worth $1,739,000. United Capital Financial Advisors LLC increased its position in Palantir Technologies by 36.3% during the fourth quarter. United Capital Financial Advisors LLC now owns 35,501 shares of the company's stock worth $2,685,000 after buying an additional 9,449 shares during the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $863,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PLTR shares. Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a report on Tuesday, August 5th. Loop Capital lifted their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Down 2.1%

PLTR opened at $177.17 on Friday. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00. The company has a market cap of $418.11 billion, a P/E ratio of 590.59, a price-to-earnings-growth ratio of 10.20 and a beta of 2.60. The company has a fifty day moving average price of $151.03 and a two-hundred day moving average price of $119.20.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 in the last quarter. 9.23% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.