Wealth Effects LLC Sells 3,405 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Wealth Effects LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 44.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,309 shares of the company’s stock after selling 3,405 shares during the period. Wealth Effects LLC’s holdings in Palantir Technologies were worth $364,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. First Command Advisory Services Inc. bought a new stake in Palantir Technologies in the fourth quarter worth about $34,000. Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter worth about $34,000. Fairfield Financial Advisors LTD bought a new stake in Palantir Technologies in the fourth quarter worth about $35,000. Godsey & Gibb Inc. raised its position 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 acquiring an additional 370 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Palantir Technologies in the fourth quarter worth about $36,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PLTR. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. DA Davidson lifted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price for the company. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $89.32.

Palantir Technologies Trading Down 0.2%

Shares of NASDAQ:PLTR opened at $142.90 on Thursday. The company has a 50 day moving average of $123.49 and a 200 day moving average of $98.53. The stock has a market cap of $337.23 billion, a P/E ratio of 621.30, a P/E/G ratio of 12.23 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $147.67.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate 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 net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 702,786 shares of the company’s stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the transaction, the director now directly owns 12,562 shares of the company’s stock, valued at approximately $1,624,140.98. This represents a 57.51% 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 valued at $188,456,658 in the last quarter. Corporate insiders own 9.23% of the company’s stock.

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.