Global Trust Asset Management LLC Reduces Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Global Trust Asset Management LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 15.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 39,285 shares of the company’s stock after selling 7,241 shares during the quarter. Palantir Technologies comprises approximately 2.0% of Global Trust Asset Management LLC’s holdings, making the stock its 11th biggest position. Global Trust Asset Management LLC’s holdings in Palantir Technologies were worth $3,316,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at about $27,000. HighMark Wealth Management LLC grew its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC bought a new position in Palantir Technologies during the fourth quarter valued at approximately $31,000. First Command Advisory Services Inc. purchased a new position in shares of Palantir Technologies in the fourth quarter worth $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 2.9%

NASDAQ PLTR opened at $141.41 on Tuesday. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86. The firm has a market capitalization of $333.72 billion, a P/E ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64. The company has a 50-day moving average price of $116.76 and a 200-day moving average price of $95.53.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. 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 firm earned $0.08 EPS. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a “buy” rating in a report on Thursday, June 12th. UBS Group boosted their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.30.

Palantir Technologies Company 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.