Chevy Chase Trust Holdings LLC Reduces Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Chevy Chase Trust Holdings LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,076,008 shares of the company’s stock after selling 118 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Palantir Technologies were worth $90,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Petros Family Wealth LLC purchased a new stake in Palantir Technologies in the first quarter worth approximately $273,000. YHB Investment Advisors Inc. boosted its holdings in Palantir Technologies by 115.0% in the first quarter. YHB Investment Advisors Inc. now owns 8,438 shares of the company’s stock worth $712,000 after purchasing an additional 4,513 shares during the last quarter. Embree Financial Group boosted its holdings in Palantir Technologies by 6.0% in the first quarter. Embree Financial Group now owns 25,715 shares of the company’s stock worth $2,170,000 after purchasing an additional 1,449 shares during the last quarter. Mascagni Wealth Management Inc. boosted its holdings in Palantir Technologies by 155.5% in the first quarter. Mascagni Wealth Management Inc. now owns 27,209 shares of the company’s stock worth $2,296,000 after purchasing an additional 16,560 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in Palantir Technologies by 498.9% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,054 shares of the company’s stock worth $89,000 after purchasing an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $139.92 on Tuesday. The company has a market capitalization of $330.20 billion, a price-to-earnings ratio of 608.35, a PEG ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86. The company’s fifty day moving average price is $121.59 and its 200-day moving average price is $97.91.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLTR. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. Citigroup lifted their price target 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. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $89.32.

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.