Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Trust Asset Management LLC

Trust Asset Management LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,662 shares of the company’s stock after selling 2,144 shares during the period. Trust Asset Management LLC’s holdings in Palantir Technologies were worth $1,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northern Trust Corp lifted its stake in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. increased its holdings in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock valued at $1,149,055,000 after acquiring an additional 571,544 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company’s stock valued at $1,099,861,000 after acquiring an additional 187,860 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTR. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a “neutral” rating in a report on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating and raised their target price for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $136.61.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director owned 62,887 shares in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider owned 363,755 shares of the company’s stock, valued at $63,657,125. This represents a 7.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock valued at $196,472,623 over the last quarter. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Up 2.6%

Shares of PLTR stock opened at $186.96 on Monday. The stock has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $29.10 and a fifty-two week high of $187.99. The firm’s 50 day moving average price is $145.64 and its two-hundred day moving average price is $116.13.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the company posted $0.09 earnings per share. Palantir Technologies’s revenue was up 48.0% compared to the same quarter last year. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies 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.