Lazari Capital Management Inc. Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Lazari Capital Management Inc. trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,099 shares of the company’s stock after selling 313 shares during the period. Lazari Capital Management Inc.’s holdings in Palantir Technologies were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $450,000. Callan Capital LLC acquired a new position in Palantir Technologies in the 4th quarter valued at about $254,000. Olympiad Research LP acquired a new position in Palantir Technologies in the 4th quarter valued at about $278,000. First Horizon Advisors Inc. raised its stake in Palantir Technologies by 8.8% in the 4th quarter. First Horizon Advisors Inc. now owns 16,292 shares of the company’s stock valued at $1,232,000 after purchasing an additional 1,320 shares during the last quarter. Finally, TCW Group Inc. raised its stake in Palantir Technologies by 2.6% in the 4th quarter. TCW Group Inc. now owns 27,963 shares of the company’s stock valued at $2,115,000 after purchasing an additional 708 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 1.9%

NASDAQ PLTR opened at $139.92 on Tuesday. The stock has a market cap of $330.20 billion, a PE ratio of 608.35, a P/E/G ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The business has a 50 day moving average price of $121.59 and a two-hundred day moving average price of $97.91.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. 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. UBS Group lifted their price target on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, 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. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.32.

Insider Activity

In other news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the 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. In the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. 12.93% of the stock is currently owned by insiders.

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.