Udine Wealth Management Inc. Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Udine Wealth Management Inc. cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,168 shares of the company's stock after selling 10,763 shares during the period. Palantir Technologies makes up about 1.7% of Udine Wealth Management Inc.'s holdings, making the stock its 14th largest holding. Udine Wealth Management Inc.'s holdings in Palantir Technologies were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. HighMark Wealth Management LLC lifted its holdings in 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 acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $31,000. First Command Advisory Services Inc. acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $34,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Finally, Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Five 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $7.81 during trading hours on Friday, reaching $127.72. 86,933,462 shares of the company were exchanged, compared to its average volume of 79,889,951. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $135.28. The stock's fifty day moving average is $110.01 and its 200 day moving average is $92.16. The firm has a market cap of $301.41 billion, a PE ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64.

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

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $50,497.60. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies 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.