VCI Wealth Management LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

VCI Wealth Management LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,163 shares of the company's stock after selling 2,996 shares during the period. VCI Wealth Management LLC's holdings in Palantir Technologies were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $450,000. Proficio Capital Partners LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $522,000. Thrivent Financial for Lutherans increased its holdings in shares of Palantir Technologies by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 92,313 shares of the company's stock worth $6,900,000 after buying an additional 657 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $38,000. Finally, TD Private Client Wealth LLC grew its position in Palantir Technologies by 14.2% in the fourth quarter. TD Private Client Wealth LLC now owns 5,417 shares of the company's stock worth $410,000 after acquiring an additional 672 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLTR. DA Davidson raised their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday, July 10th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $91.37.

Palantir Technologies Trading Down 2.2%

Shares of NASDAQ PLTR traded down $3.28 during trading hours on Tuesday, reaching $148.51. The stock had a trading volume of 28,678,064 shares, compared to its average volume of 83,059,495. The firm has a 50-day moving average of $134.33 and a 200-day moving average of $106.57. The firm has a market cap of $350.48 billion, a price-to-earnings ratio of 645.75, a PEG ratio of 13.11 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the business posted $0.08 earnings per share. The business's revenue was up 39.4% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 39,825 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $810,271,540.26. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the sale, the insider directly owned 363,755 shares in the company, valued at approximately $54,563,250. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 12.93% 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.

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