Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Twin Peaks Wealth Advisors LLC

Twin Peaks Wealth Advisors LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 21.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,144 shares of the company’s stock after selling 1,379 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in Palantir Technologies were worth $434,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp grew its holdings in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $1,360,191,000. FMR LLC grew its holdings in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,816,925 shares of company stock valued at $215,448,358. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Down 0.9%

Shares of PLTR opened at $135.19 on Friday. The business’s 50 day moving average is $114.28 and its two-hundred day moving average is $94.12. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $140.00. The firm has a market cap of $319.04 billion, a price-to-earnings ratio of 711.56, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its 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 analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. UBS Group upped their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Citigroup upped their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Five 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $86.30.

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.