Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Straight Path Wealth Management

Straight Path Wealth Management decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 36.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,281 shares of the company’s stock after selling 11,490 shares during the quarter. Palantir Technologies accounts for about 0.7% of Straight Path Wealth Management’s holdings, making the stock its 23rd largest holding. Straight Path Wealth Management’s holdings in Palantir Technologies were worth $1,712,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PLTR. Sovran Advisors LLC grew its position in 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 acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock worth $755,000 after purchasing an additional 97 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA grew its holdings in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 3,936 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the transaction, the insider directly owned 363,755 shares of the company’s stock, valued at approximately $45,822,217.35. The trade was a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company’s stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,407,948 shares of company stock worth $180,262,603 in the last ninety days. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $132.12 on Thursday. The stock has a 50-day simple moving average of $127.51 and a 200-day simple moving average of $100.66. The company has a market capitalization of $311.79 billion, a P/E ratio of 574.43, a PEG ratio of 11.16 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

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, meeting analysts’ consensus estimates of $0.13. The company 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 6.55% and a net margin of 18.32%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.32.

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.