Global Trust Asset Management LLC Sells 7,241 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Global Trust Asset Management LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,285 shares of the company’s stock after selling 7,241 shares during the quarter. Palantir Technologies accounts for approximately 2.0% of Global Trust Asset Management LLC’s investment portfolio, making the stock its 11th biggest holding. Global Trust Asset Management LLC’s holdings in Palantir Technologies were worth $3,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Continuum Advisory LLC grew its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after acquiring an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA grew its stake in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Gemmer Asset Management LLC grew its stake in shares of Palantir Technologies by 1.6% in the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock valued at $639,000 after acquiring an additional 119 shares in the last quarter. Finally, Westover Capital Advisors LLC grew its stake in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after acquiring an additional 130 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Citigroup increased their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.30.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of Palantir Technologies stock in a transaction on Monday, June 9th. The stock was sold at an average price of $129.29, for a total value of $2,197,930.00. Following the sale, the director now owns 12,562 shares in the company, valued at $1,624,140.98. The trade was a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 in the last ninety days. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Up 2.9%

Shares of PLTR stock opened at $141.41 on Tuesday. The company has a market cap of $333.72 billion, a price-to-earnings ratio of 744.30, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86. The firm has a 50 day moving average of $116.76 and a 200-day moving average of $95.53.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the firm posted $0.08 EPS. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. Analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.