Clarity Wealth Advisors LLC Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Clarity Wealth Advisors LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,320 shares of the company’s stock after selling 700 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Palantir Technologies were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Richardson Capital Management LLC purchased a new position in Palantir Technologies during the first quarter worth $33,000. Cornerstone Planning Group LLC boosted its stake in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after buying an additional 185 shares during the period. Summit Securities Group LLC purchased a new position in Palantir Technologies during the fourth quarter worth $34,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock worth $34,000 after buying an additional 125 shares during the period. Finally, Godsey & Gibb Inc. boosted its stake in shares of 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 during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Down 0.4%

PLTR opened at $142.50 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The company has a market cap of $336.29 billion, a P/E ratio of 619.57, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59. The firm’s 50-day moving average price is $130.45 and its 200-day moving average price is $103.25.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson lifted their price objective on Palantir Technologies from $100.00 to $115.00 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. Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.32.

Palantir Technologies 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.