Balboa Wealth Partners Sells 1,532 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Balboa Wealth Partners reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,678 shares of the company’s stock after selling 1,532 shares during the period. Palantir Technologies makes up approximately 1.2% of Balboa Wealth Partners’ investment portfolio, making the stock its 15th biggest position. Balboa Wealth Partners’ holdings in Palantir Technologies were worth $5,121,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $34,000. Fairfield Financial Advisors LTD acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $35,000. Godsey & Gibb Inc. raised its position in Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $36,000. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,506,925 shares of company stock worth $188,456,658. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. 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 company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $89.32.

Palantir Technologies Stock Up 1.9%

NASDAQ PLTR opened at $139.92 on Tuesday. The company has a market capitalization of $330.20 billion, a price-to-earnings ratio of 608.35, a PEG ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The stock has a fifty day simple moving average of $121.59 and a 200 day simple moving average of $97.91.

Palantir Technologies (NASDAQ:PLTR) last posted 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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the business posted $0.08 earnings per share. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. Research analysts expect 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.