Palantir Technologies Inc. (NASDAQ:PLTR) Holdings Lowered by UMB Bank n.a.

UMB Bank n.a. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,871 shares of the company's stock after selling 61,710 shares during the period. UMB Bank n.a.'s holdings in Palantir Technologies were worth $11,890,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth $27,000. HighMark Wealth Management LLC raised its stake 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 buying an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $31,000. First Command Advisory Services Inc. purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Up 3.4%

Shares of PLTR traded up $4.34 during midday trading on Monday, reaching $132.06. 74,479,178 shares of the company were exchanged, compared to its average volume of 80,040,426. The company has a market cap of $311.65 billion, a price-to-earnings ratio of 695.09, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $135.28. The stock has a 50-day moving average price of $110.01 and a 200-day moving average price of $92.58.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTR. UBS Group raised their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Mizuho increased their price objective on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.95.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Buckley sold 1,708 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $215,874.12. Following the sale, the insider now owns 34,468 shares in the company, valued at $4,356,410.52. The trade was a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,894,925 shares of company stock valued at $369,820,528. Insiders own 9.23% of the company's stock.

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.