Wall Street Financial Group Inc. Sells 6,330 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Wall Street Financial Group Inc. lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,796 shares of the company's stock after selling 6,330 shares during the period. Palantir Technologies accounts for about 1.2% of Wall Street Financial Group Inc.'s investment portfolio, making the stock its 17th largest position. Wall Street Financial Group Inc.'s holdings in Palantir Technologies were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter worth $34,000. Fairfield Financial Advisors LTD bought a new stake in Palantir Technologies in the fourth quarter worth $35,000. Godsey & Gibb Inc. increased its position in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Palantir Technologies in the fourth quarter worth $36,000. Finally, Lee Danner & Bass Inc. bought a new position in Palantir Technologies during the fourth quarter valued at $38,000. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider now owns 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $130.74 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The company has a 50-day moving average of $125.24 and a 200 day moving average of $99.62. The firm has a market cap of $308.53 billion, a PE ratio of 568.43, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on PLTR. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Citigroup boosted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus target price 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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