Twin Capital Management Inc. Sells 2,628 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Twin Capital Management Inc. cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,939 shares of the company’s stock after selling 2,628 shares during the period. Twin Capital Management Inc.’s holdings in Palantir Technologies were worth $3,371,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PLTR. Allegiance Financial Group Advisory Services LLC boosted its position in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company’s stock worth $246,000 after purchasing an additional 84 shares in the last quarter. Sovran Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock worth $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock valued at $755,000 after buying an additional 97 shares during the last quarter. Continuum Advisory LLC grew 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 valued at $202,000 after buying an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its position in Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company’s stock worth $1,531,000 after acquiring an additional 99 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares of the company’s stock, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 30,812 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last 90 days. Company insiders own 9.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Mizuho upgraded shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $116.00 to $135.00 in a research report on Wednesday. Finally, Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $91.37.

Palantir Technologies Trading Down 0.3%

Palantir Technologies stock opened at $153.52 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year 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 firm’s 50 day simple moving average is $134.33 and its 200 day simple moving average is $106.36.

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

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.