Sivia Capital Partners LLC Lowers Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sivia Capital Partners LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 26.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,446 shares of the company’s stock after selling 7,528 shares during the quarter. Palantir Technologies makes up approximately 0.8% of Sivia Capital Partners LLC’s investment portfolio, making the stock its 21st largest holding. Sivia Capital Partners LLC’s holdings in Palantir Technologies were worth $1,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $27,000. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $31,000. First Command Advisory Services Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup raised their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Loop Capital lifted their price objective on Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson boosted their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock worth $369,820,528 in the last quarter. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $127.72 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The company has a market capitalization of $301.41 billion, a P/E ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64. The stock has a 50-day simple moving average of $110.01 and a 200-day simple moving average of $92.16.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the business earned $0.08 EPS. The business’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, analysts forecast 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.