Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,037 shares of the company's stock after selling 5,319 shares during the quarter. Quadcap Wealth Management LLC's holdings in Palantir Technologies were worth $683,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its position 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 worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp boosted its position 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 worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. FMR LLC boosted its position in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% in 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 period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLTR. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Mizuho upped their target price on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Price Performance

PLTR opened at $128.12 on Friday. The business has a 50 day simple moving average of $97.69 and a 200-day simple moving average of $84.26. The stock has a market capitalization of $300.49 billion, a P/E ratio of 674.35, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49.

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, hitting the consensus estimate 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 return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 18,537 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the transaction, the insider now owns 493,469 shares of the company's stock, valued at approximately $50,491,748.08. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now directly owns 184,617 shares of the company's stock, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,964,290 shares of company stock valued at $250,504,866. 12.93% of the stock is 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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