World Equity Group Inc. Sells 28,955 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

World Equity Group Inc. lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 50,169 shares of the company's stock after selling 28,955 shares during the quarter. Palantir Technologies makes up approximately 1.2% of World Equity Group Inc.'s investment portfolio, making the stock its 15th largest holding. World Equity Group Inc.'s holdings in Palantir Technologies were worth $4,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Godsey & Gibb Inc. increased its position in Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the period. First Command Advisory Services Inc. acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $34,000. Fairfield Financial Advisors LTD acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $35,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Down 1.9%

NASDAQ PLTR opened at $137.30 on Friday. The stock's 50-day moving average price is $120.65 and its 200-day moving average price is $97.09. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86. The company has a market capitalization of $324.02 billion, a P/E ratio of 596.96, a price-to-earnings-growth ratio of 11.95 and a beta of 2.64.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. UBS Group raised their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $89.32.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now directly owns 403,171 shares of the company's stock, valued at $33,382,558.80. The trade was a 19.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $53,492,400.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 in the last quarter. 9.23% of the stock is owned by company insiders.

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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