Avalon Capital Management Lowers Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Avalon Capital Management cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,093 shares of the company’s stock after selling 757 shares during the period. Avalon Capital Management’s holdings in Palantir Technologies were worth $683,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mechanics Financial Corp acquired a new position in Palantir Technologies in the 1st quarter worth $25,000. Cornerstone Planning Group LLC lifted its holdings 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 buying an additional 185 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the 1st quarter worth $33,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in Palantir Technologies by 45.5% in the 1st 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 in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Palantir Technologies by 118.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company’s stock worth $35,000 after buying an additional 224 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares in the company, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% 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 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson lifted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, Morgan Stanley lifted their price target 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 analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.30.

Palantir Technologies Price Performance

Shares of PLTR opened at $158.80 on Monday. The company has a market capitalization of $374.75 billion, a PE ratio of 690.43, a price-to-earnings-growth ratio of 13.54 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.39. The company’s fifty day moving average price is $137.03 and its 200 day moving average price is $109.42.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting 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 last year, the firm posted $0.08 EPS. The business’s quarterly revenue was up 39.4% on a year-over-year basis. Analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.