Werba Rubin Papier Wealth Management Sells 2,662 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Werba Rubin Papier Wealth Management sold 2,662 shares of Palantir Technologies, cutting its stake by 49.9%, leaving them with 2,672 shares valued at $226,000.
• Notable institutional investors recently increased their holdings in Palantir, with Geode Capital Management growing its stake by 8.6% and Wellington Management increasing theirs by 504% in the last quarter.
• Palantir Technologies reported earnings of $0.13 per share for the last quarter, meeting analysts' expectations, and achieved a revenue of $883.86 million, a 39.4% increase year-over-year.

Werba Rubin Papier Wealth Management cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,672 shares of the company's stock after selling 2,662 shares during the quarter. Werba Rubin Papier Wealth Management's holdings in Palantir Technologies were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after purchasing an additional 3,907,022 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Capital World Investors bought a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $253,816,000. Finally, Northern Trust Corp grew its holdings in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 0.6%

Palantir Technologies stock opened at $157.88 on Tuesday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39. The firm's fifty day moving average is $137.66 and its 200 day moving average is $110.05. The company has a market capitalization of $372.58 billion, a PE ratio of 686.43, a PEG ratio of 13.54 and a beta of 2.59.

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

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction on 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 owned 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on 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 owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. 9.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLTR. Cantor Fitzgerald boosted their target price on shares of 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 shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their target price 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. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Company 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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