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

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

A number of other hedge funds have also modified their holdings of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock valued at $33,000 after buying an additional 185 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $33,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 45.5% in the first 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 boosted its position in shares of Palantir Technologies by 118.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company’s stock worth $35,000 after acquiring an additional 224 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $96.45.

Palantir Technologies Trading Down 2.6%

Palantir Technologies stock opened at $154.27 on Friday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.89. The firm has a 50-day moving average price of $140.37 and a 200-day moving average price of $111.96. The firm has a market capitalization of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ryan D. Taylor sold 33,335 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at $54,563,250. The trade was a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director directly owned 62,887 shares in the company, valued at $8,779,654.07. This trade represents a 1.26% decrease in their position. 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 three months. Corporate insiders own 9.23% of the company’s stock.

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.