Palantir Technologies Inc. (NASDAQ:PLTR) Holdings Cut by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 30.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,871 shares of the company’s stock after selling 7,650 shares during the period. Palantir Technologies comprises about 0.8% of Uniting Wealth Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Uniting Wealth Partners LLC’s holdings in Palantir Technologies were worth $1,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $450,000. Advisor OS LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $427,000. Checchi Capital Advisers LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $258,000. NewEdge Wealth LLC raised its holdings in shares of Palantir Technologies by 34.8% during the fourth quarter. NewEdge Wealth LLC now owns 19,969 shares of the company’s stock valued at $1,510,000 after buying an additional 5,152 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $39,507,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider now owns 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 in the last three months. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 9.4%

Shares of NASDAQ PLTR opened at $130.74 on Friday. The stock has a market capitalization of $308.53 billion, a price-to-earnings ratio of 568.43, a PEG ratio of 12.31 and a beta of 2.64. The stock’s fifty day simple moving average is $125.24 and its 200 day simple moving average is $99.44. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for 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%. The company’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

PLTR has been the topic of a number of recent analyst reports. Mizuho lifted their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a report on Wednesday, June 11th. Daiwa America raised Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a “buy” rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $89.32.

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.