Uniting Wealth Partners LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Uniting Wealth Partners LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,871 shares of the company's stock after selling 7,650 shares during the quarter. Palantir Technologies accounts for about 0.8% of Uniting Wealth Partners LLC's holdings, making the stock its 20th biggest position. Uniting Wealth Partners LLC's holdings in Palantir Technologies were worth $1,508,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $1,360,191,000. Geode Capital Management LLC lifted its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP lifted its stake in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its stake in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 9.4%

Shares of NASDAQ PLTR opened at $130.74 on Friday. The stock has a fifty day moving average price of $125.24 and a 200 day moving average price of $99.44. The company has a market cap of $308.53 billion, a P/E ratio of 568.43, a P/E/G ratio of 12.31 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company's revenue was up 39.4% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, DA Davidson increased their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $89.32.

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.

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