Nicolet Advisory Services LLC Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Nicolet Advisory Services LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,593 shares of the company’s stock after selling 3,055 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Palantir Technologies were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Mechanics Financial Corp bought a new position in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Richardson Capital Management LLC purchased a new stake in Palantir Technologies during the first quarter worth $33,000. Cornerstone Planning Group LLC boosted its position in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock valued at $33,000 after acquiring an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Palantir Technologies by 45.5% in the 1st 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 during the period. Finally, Godsey & Gibb Inc. raised its position in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock worth $35,000 after acquiring an additional 370 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 2.6%

Shares of NASDAQ:PLTR opened at $154.27 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.89. The stock has a market cap of $364.06 billion, a price-to-earnings ratio of 670.74, a PEG ratio of 13.50 and a beta of 2.60. The business has a 50-day moving average price of $140.37 and a 200-day moving average price of $111.96.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share 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 company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the company earned $0.08 EPS. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLTR shares. UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Morgan Stanley lifted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Piper Sandler initiated coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They set an “overweight” rating and a $170.00 target price for the company. Cantor Fitzgerald raised their target price 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. Finally, Wedbush set a $160.00 price target on Palantir Technologies in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $96.45.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the sale, the insider directly owned 363,755 shares of the company’s stock, valued at approximately $54,563,250. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is owned by corporate insiders.

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.