Walled Lake Planning & Wealth Management LLC Sells 1,780 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Walled Lake Planning & Wealth Management LLC reduced its stake in Palantir Technologies by 33.0%, selling 1,780 shares to own 3,612 shares worth approximately $305,000.
• Palantir's quarterly earnings reported an EPS of $0.13, matching estimates, with a revenue of $883.86 million and a year-over-year growth of 39.4%.
• Insider selling has occurred significantly, with insiders unloading approximately 1.49 million shares valued at over $191 million in the last ninety days.

Walled Lake Planning & Wealth Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,612 shares of the company's stock after selling 1,780 shares during the period. Walled Lake Planning & Wealth Management LLC's holdings in Palantir Technologies were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Allegiance Financial Group Advisory Services LLC increased its position in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after acquiring an additional 84 shares in the last quarter. Sovran Advisors LLC increased its position in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC increased its position in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its position in shares of Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $157.88 on Tuesday. The company has a market capitalization of $372.58 billion, a price-to-earnings ratio of 686.43, a PEG ratio of 13.54 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.39. The company's fifty day moving average price is $137.66 and its 200-day moving average price is $110.05.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. 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 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLTR. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $95.30.

Insider Activity

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. The trade was a 81.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at approximately $54,563,250. This represents 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 sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is currently owned by 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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