OneAscent Wealth Management LLC Reduces Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

OneAscent Wealth Management LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 29.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,658 shares of the company’s stock after selling 1,960 shares during the period. OneAscent Wealth Management LLC’s holdings in Palantir Technologies were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the 1st quarter worth about $25,000. Cornerstone Planning Group LLC grew its stake in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after acquiring an additional 185 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies during the 1st quarter worth approximately $33,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company’s stock valued at $35,000 after purchasing an additional 224 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR opened at $153.73 on Monday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $155.68. The stock has a market cap of $362.79 billion, a PE ratio of 669.68, a P/E/G ratio of 13.11 and a beta of 2.59. The firm has a 50-day simple moving average of $134.33 and a two-hundred day simple moving average of $106.57.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLTR shares. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Mizuho upgraded shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and upped their price target for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. Citigroup upped their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $91.37.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies 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 completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies 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 $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares of the company’s stock, valued at $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 12.93% of the stock is owned by corporate insiders.

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.