Vestmark Advisory Solutions Inc. reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 46.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,882 shares of the company's stock after selling 131,005 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Palantir Technologies were worth $12,734,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Palantir Technologies during the 1st quarter worth approximately $520,232,000. Goldman Sachs Group Inc. lifted its position in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares in the last quarter. Capital World Investors acquired a new position in Palantir Technologies during the 4th quarter worth approximately $253,816,000. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PLTR has been the topic of several analyst reports. Citigroup restated a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Cantor Fitzgerald upped their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $136.61.
Read Our Latest Stock Report on PLTR
Palantir Technologies Price Performance
Shares of Palantir Technologies stock traded down $3.35 during trading on Thursday, hitting $181.02. The stock had a trading volume of 53,317,061 shares, compared to its average volume of 60,054,936. The firm has a market cap of $427.19 billion, a P/E ratio of 603.42, a PEG ratio of 10.39 and a beta of 2.60. The business has a fifty day moving average of $150.04 and a two-hundred day moving average of $118.54. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company's revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.
Insider Buying and Selling at Palantir Technologies
In related news, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 30,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the sale, the insider directly owned 363,755 shares of the company's stock, valued at approximately $63,657,125. This represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,515,632 shares of company stock valued at $196,472,623 over the last 90 days. 9.23% of the stock is owned by insiders.
About Palantir Technologies
(
Free Report)
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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