EFG Asset Management Americas Corp. Sells 15,365 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

EFG Asset Management Americas Corp. decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 17.8% in the 1st quarter, Holdings Channel reports. The fund owned 71,094 shares of the company’s stock after selling 15,365 shares during the quarter. Palantir Technologies accounts for approximately 1.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 23rd largest position. EFG Asset Management Americas Corp.’s holdings in Palantir Technologies were worth $6,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth $450,000. RWA Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth $360,000. CIBC Private Wealth Group LLC grew its stake in shares of Palantir Technologies by 17.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 108,862 shares of the company’s stock worth $8,233,000 after acquiring an additional 16,479 shares during the period. Wellington Management Group LLP grew its stake in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Palantir Technologies by 402.9% during the 4th quarter. Franklin Resources Inc. now owns 863,257 shares of the company’s stock worth $65,288,000 after purchasing an additional 691,604 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.5%

Shares of NASDAQ PLTR opened at $158.61 on Thursday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.39. The stock’s 50-day moving average is $139.03 and its 200 day moving average is $110.71. The stock has a market cap of $374.31 billion, a price-to-earnings ratio of 689.61, a P/E/G ratio of 13.32 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 39.4% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on PLTR shares. Cantor Fitzgerald raised their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Citigroup raised their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. The Goldman Sachs Group raised their target price 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 restated a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.45.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $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. Over the last three months, insiders sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by corporate insiders.

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.