Wealthcare Capital Partners LLC Trims Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Wealthcare Capital Partners LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 48.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,785 shares of the company's stock after selling 2,627 shares during the period. Wealthcare Capital Partners LLC's holdings in Palantir Technologies were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp boosted its holdings in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter worth $1,360,191,000. FMR LLC boosted its holdings in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $127.72 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The business's 50-day moving average is $110.01 and its two-hundred day moving average is $92.37. The company has a market cap of $301.41 billion, a price-to-earnings ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on PLTR. UBS Group boosted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Citigroup boosted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,708 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $215,874.12. Following the transaction, the insider now owns 34,468 shares of the company's stock, valued at approximately $4,356,410.52. This represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is owned by company insiders.

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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