Trust Point Inc. Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Trust Point Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,452 shares of the company’s stock after selling 1,083 shares during the quarter. Trust Point Inc.’s holdings in Palantir Technologies were worth $376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Sierra Ocean LLC purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $31,000. First Command Advisory Services Inc. acquired a new position in Palantir Technologies during the fourth quarter worth $34,000. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the fourth quarter worth $34,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Palantir Technologies in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a “buy” rating in a research report on Thursday, June 12th. Morgan Stanley lifted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $89.32.

Palantir Technologies Stock Down 2.3%

PLTR stock opened at $138.20 on Wednesday. The company has a market cap of $326.14 billion, a price-to-earnings ratio of 600.87, a PEG ratio of 11.93 and a beta of 2.64. The business has a fifty day simple moving average of $117.68 and a 200-day simple moving average of $95.83. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the acquisition, the insider now owns 58,006 shares in the company, valued at $6,736,816.84. This represents a 20.83% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

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.