Triglav Investments D.O.O. Cuts Stake in Palantir Technologies Inc. $PLTR

Triglav Investments D.O.O. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 75.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 34,916 shares of the company’s stock after selling 108,184 shares during the period. Triglav Investments D.O.O.’s holdings in Palantir Technologies were worth $6,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Gallacher Capital Management LLC boosted its position in shares of Palantir Technologies by 2.2% during the 3rd quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock valued at $447,000 after acquiring an additional 53 shares during the last quarter. Bare Financial Services Inc boosted its position in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Palantir Technologies by 15.8% during the 3rd quarter. AlphaQuest LLC now owns 425 shares of the company’s stock valued at $78,000 after acquiring an additional 58 shares during the last quarter. Beaumont Financial Advisors LLC boosted its position in shares of Palantir Technologies by 2.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after acquiring an additional 59 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its position in shares of Palantir Technologies by 0.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after acquiring an additional 60 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the sale, the insider owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. This trade represents a 8.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 922,524 shares of company stock worth $125,501,302 over the last ninety days. Corporate insiders own 9.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PLTR shares. Citigroup increased their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. William Blair upgraded Palantir Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, February 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Thursday, May 21st. UBS Group increased their target price on Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, Robert W. Baird raised shares of Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Read Our Latest Stock Report on Palantir Technologies

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $156.54 on Friday. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52. The firm has a 50-day simple moving average of $141.70 and a two-hundred day simple moving average of $156.13. The company has a market cap of $375.28 billion, a P/E ratio of 175.89, a PEG ratio of 2.27 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Palantir Technologies Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

See Also

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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