Silverleafe Capital Partners LLC Trims Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Silverleafe Capital Partners LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,789 shares of the company’s stock after selling 3,409 shares during the quarter. Palantir Technologies accounts for 1.0% of Silverleafe Capital Partners LLC’s portfolio, making the stock its 23rd biggest holding. Silverleafe Capital Partners LLC’s holdings in Palantir Technologies were worth $2,936,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLTR. Tallon Kerry Patrick purchased a new stake in Palantir Technologies during the fourth quarter valued at $289,000. Union Bancaire Privee UBP SA purchased a new stake in Palantir Technologies during the fourth quarter valued at $15,177,000. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at $450,000. Strategic Financial Concepts LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $245,000. Finally, Sierra Ocean LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% 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 valued at $188,456,658 in the last ninety days. Insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group upped 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. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, UBS Group upped 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. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.32.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $139.96 on Thursday. The firm has a market capitalization of $330.29 billion, a price-to-earnings ratio of 608.52, a PEG ratio of 11.66 and a beta of 2.64. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $144.86. The business has a 50 day simple moving average of $118.64 and a 200-day simple moving average of $96.13.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business 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 company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.