Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by WT Wealth Management

WT Wealth Management cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,947 shares of the company’s stock after selling 373 shares during the period. WT Wealth Management’s holdings in Palantir Technologies were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. HighPoint Advisor Group LLC raised its position in shares of Palantir Technologies by 2.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 71,659 shares of the company’s stock valued at $6,048,000 after buying an additional 1,454 shares during the period. Crestwood Advisors Group LLC raised its position in shares of Palantir Technologies by 43.1% during the 1st quarter. Crestwood Advisors Group LLC now owns 16,662 shares of the company’s stock valued at $1,406,000 after buying an additional 5,020 shares during the period. Kingsman Wealth Management Inc. purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at approximately $2,894,000. GW&K Investment Management LLC raised its position in shares of Palantir Technologies by 89.1% during the 1st quarter. GW&K Investment Management LLC now owns 1,942 shares of the company’s stock valued at $164,000 after buying an additional 915 shares during the period. Finally, Peterson Wealth Services raised its position in shares of Palantir Technologies by 62.6% during the 1st quarter. Peterson Wealth Services now owns 85,805 shares of the company’s stock valued at $7,242,000 after buying an additional 33,038 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a “buy” rating in a research report on Thursday, June 12th. Mizuho upgraded shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $91.37.

Palantir Technologies Trading Up 0.1%

Shares of PLTR stock opened at $153.68 on Monday. The company’s fifty day simple moving average is $134.33 and its 200-day simple moving average is $106.57. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $155.68. The company has a market cap of $362.67 billion, a PE ratio of 670.87, a P/E/G ratio of 13.11 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last issued its 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 the consensus estimate of $863.89 million. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 over the last 90 days. Company insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.