Fairvoy Private Wealth LLC Sells 18,566 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fairvoy Private Wealth LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 54.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,833 shares of the company’s stock after selling 18,566 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in Palantir Technologies were worth $1,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Optas LLC grew its stake in shares of Palantir Technologies by 13.2% during the first quarter. Optas LLC now owns 9,716 shares of the company’s stock valued at $820,000 after buying an additional 1,136 shares during the last quarter. D Orazio & Associates Inc. grew its stake in shares of Palantir Technologies by 7.6% during the first quarter. D Orazio & Associates Inc. now owns 6,079 shares of the company’s stock valued at $513,000 after buying an additional 430 shares during the last quarter. Bouvel Investment Partners LLC grew its stake in shares of Palantir Technologies by 2.7% during the first quarter. Bouvel Investment Partners LLC now owns 114,119 shares of the company’s stock valued at $9,632,000 after buying an additional 2,998 shares during the last quarter. Pinion Investment Advisors LLC grew its stake in shares of Palantir Technologies by 4.3% during the first quarter. Pinion Investment Advisors LLC now owns 3,305 shares of the company’s stock valued at $279,000 after buying an additional 136 shares during the last quarter. Finally, BayBridge Capital Group LLC grew its stake in shares of Palantir Technologies by 68.3% during the first quarter. BayBridge Capital Group LLC now owns 21,262 shares of the company’s stock valued at $1,795,000 after buying an additional 8,632 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PLTR. UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the company 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 report on Tuesday, May 6th. Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Loop Capital boosted their price target on Palantir Technologies from $130.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.30.

Palantir Technologies Trading Up 1.6%

Shares of PLTR opened at $137.40 on Friday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $140.00. The stock has a fifty day moving average price of $115.48 and a 200-day moving average price of $94.81. The firm has a market cap of $324.25 billion, a PE ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64.

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. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,816,925 shares of company stock worth $215,448,358. Insiders own 9.23% of the company’s stock.

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.