Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Decreased by Western Financial Corp CA

Western Financial Corp CA lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,911 shares of the company’s stock after selling 1,655 shares during the period. Palantir Technologies accounts for about 1.5% of Western Financial Corp CA’s holdings, making the stock its 9th largest holding. Western Financial Corp CA’s holdings in Palantir Technologies were worth $2,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC raised its holdings in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA raised its holdings in Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC raised its holdings in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares during the period. Gemmer Asset Management LLC raised its holdings in Palantir Technologies by 1.6% in the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock worth $639,000 after purchasing an additional 119 shares during the period. Finally, Synergy Asset Management LLC raised its holdings in Palantir Technologies by 1.7% in the 1st quarter. Synergy Asset Management LLC now owns 7,017 shares of the company’s stock worth $592,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Mizuho increased their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. Citigroup increased their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $89.32.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the firm’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 sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the firm’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 value of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This represents a 5.29% 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 valued at $188,456,658. Insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Down 0.2%

PLTR opened at $142.90 on Thursday. The firm 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. The stock has a 50-day moving average of $123.49 and a 200 day moving average of $98.53.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm’s revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $0.08 earnings per share. On average, research analysts forecast 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.