Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lowered by Western Wealth Management LLC

Western Wealth Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,900 shares of the company’s stock after selling 4,179 shares during the quarter. Western Wealth Management LLC’s holdings in Palantir Technologies were worth $3,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Command Advisory Services Inc. acquired a new position in Palantir Technologies in the 4th quarter worth about $34,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $34,000. Fairfield Financial Advisors LTD bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $35,000. Godsey & Gibb Inc. increased its holdings in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock worth $35,000 after buying an additional 370 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in Palantir Technologies during the fourth quarter valued at approximately $36,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PLTR. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Citigroup upped their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group increased their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.32.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 over the last three months. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Down 0.2%

Shares of Palantir Technologies stock opened at $142.90 on Thursday. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $147.67. The company’s fifty day simple moving average is $123.49 and its 200-day simple moving average is $98.53. The company has a market cap of $337.23 billion, a price-to-earnings ratio of 621.30, a PEG ratio of 12.23 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted 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 company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.