Palantir Technologies Inc. (NASDAQ:PLTR) Holdings Decreased by Elite Wealth Management Inc.

Elite Wealth Management Inc. decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,826 shares of the company’s stock after selling 7,479 shares during the quarter. Palantir Technologies accounts for approximately 0.9% of Elite Wealth Management Inc.’s holdings, making the stock its 10th biggest position. Elite Wealth Management Inc.’s holdings in Palantir Technologies were worth $6,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sovran Advisors LLC lifted its stake in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock valued at $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC raised its stake in Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock worth $755,000 after buying an additional 97 shares during the period. Continuum Advisory LLC raised its stake in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after buying an additional 98 shares during the period. Kathmere Capital Management LLC raised its stake in Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company’s stock worth $1,531,000 after buying an additional 99 shares during the period. Finally, Key Financial Inc raised its stake in Palantir Technologies by 0.5% during the 1st quarter. Key Financial Inc now owns 21,586 shares of the company’s stock worth $1,822,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.3%

Shares of Palantir Technologies stock opened at $142.10 on Monday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The stock has a market cap of $335.34 billion, a price-to-earnings ratio of 617.83, a P/E/G ratio of 12.13 and a beta of 2.59. The company’s fifty day moving average is $130.81 and its 200 day moving average is $103.96.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLTR shares. Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $90.37.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company’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 sale, the insider owned 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,452,297 shares of company stock valued at $186,222,373. 12.93% of the stock is owned by corporate 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.