Wealth Effects LLC Has $364,000 Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Wealth Effects LLC cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,309 shares of the company's stock after selling 3,405 shares during the quarter. Wealth Effects LLC's holdings in Palantir Technologies were worth $364,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PLTR. First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $35,000. Godsey & Gibb Inc. increased its position in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $142.90 on Thursday. The stock has a market capitalization of $337.23 billion, a P/E ratio of 621.30, a P/E/G ratio of 12.23 and a beta of 2.64. The company has a 50-day moving average price of $123.49 and a 200-day moving average price of $98.53. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $147.67.

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

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the firm'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 $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average price target of $89.32.

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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