GFS Advisors LLC Sells 48,080 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

GFS Advisors LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 51.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,590 shares of the company’s stock after selling 48,080 shares during the period. GFS Advisors LLC’s holdings in Palantir Technologies were worth $3,848,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Autumn Glory Partners LLC acquired a new position in Palantir Technologies during the first quarter worth $338,000. ORG Wealth Partners LLC grew its position in shares of Palantir Technologies by 1,756.9% in the 1st quarter. ORG Wealth Partners LLC now owns 33,758 shares of the company’s stock valued at $2,859,000 after acquiring an additional 31,940 shares during the period. Trivant Custom Portfolio Group LLC grew its position in shares of Palantir Technologies by 64.5% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,020 shares of the company’s stock valued at $86,000 after acquiring an additional 400 shares during the period. HCR Wealth Advisors acquired a new position in shares of Palantir Technologies during the 1st quarter worth about $213,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Palantir Technologies by 198.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 79,954 shares of the company’s stock worth $6,748,000 after purchasing an additional 53,125 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group boosted their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $89.32.

Palantir Technologies Stock Up 1.3%

Shares of Palantir Technologies stock opened at $139.96 on Thursday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The company has a 50-day simple moving average of $118.64 and a two-hundred day simple moving average of $96.13. The stock has a market capitalization of $330.29 billion, a price-to-earnings ratio of 608.52, a price-to-earnings-growth ratio of 11.66 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data 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 business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the previous year, the company earned $0.08 EPS. The business’s revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric H. Woersching sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the transaction, the director now directly owns 12,562 shares in the company, valued at approximately $1,624,140.98. The trade was a 57.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last quarter. 9.23% of the stock is currently 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.