IFP Advisors Inc Sells 27,204 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

IFP Advisors Inc cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 21.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,188 shares of the company’s stock after selling 27,204 shares during the quarter. IFP Advisors Inc’s holdings in Palantir Technologies were worth $8,287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter worth $25,000. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth $33,000. Cornerstone Planning Group LLC lifted its position in shares of 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 purchasing an additional 185 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $34,000. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock valued at $34,000 after acquiring an additional 125 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the sale, the director directly owned 62,887 shares in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group restated a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Mizuho raised Palantir Technologies from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $116.00 to $135.00 in a research note on Wednesday. Finally, Morgan Stanley upped their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $91.37.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $153.52 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $155.68. The firm has a market capitalization of $362.29 billion, a PE ratio of 667.48, a price-to-earnings-growth ratio of 13.11 and a beta of 2.59. The stock’s 50-day simple moving average is $134.33 and its 200-day simple moving average is $106.36.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly 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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the business posted $0.08 EPS. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.