United Capital Management of KS Inc. Sells 83,729 Shares of Palantir Technologies Inc. $PLTR

Key Points

• United Capital Management of KS Inc. sold 83,729 shares of Palantir Technologies (NASDAQ:PLTR), reducing its holdings by 17.6% and now owns 392,738 shares, worth approximately $33.1 million.
• Palantir's stock opened at $181.02 and has a market cap of $427.19 billion, with analysts predicting a 0.31 EPS for the current fiscal year.
• Insider selling has been notable, with a combined 1,515,632 shares sold in the last three months, which accounts for 9.23% of the total shares owned by insiders.

United Capital Management of KS Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,738 shares of the company's stock after selling 83,729 shares during the period. Palantir Technologies accounts for approximately 6.8% of United Capital Management of KS Inc.'s portfolio, making the stock its 3rd biggest holding. United Capital Management of KS Inc.'s holdings in Palantir Technologies were worth $33,147,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLTR. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the 1st quarter worth about $25,000. Cornerstone Planning Group LLC lifted its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth about $33,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its position in shares of Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock worth $35,000 after purchasing an additional 224 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,515,632 shares of company stock worth $196,472,623. 12.93% of the stock is owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR traded down $3.14 on Monday, hitting $174.03. The company's stock had a trading volume of 61,588,385 shares, compared to its average volume of 90,964,625. The company has a market capitalization of $412.86 billion, a PE ratio of 580.12, a PEG ratio of 9.99 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The company has a 50 day moving average price of $151.03 and a 200 day moving average price of $119.75.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Two investment 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's stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $136.61.

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.