Insight Wealth Strategies LLC Sells 5,614 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Insight Wealth Strategies LLC decreased its position in Palantir Technologies Inc. (NYSE:PLTRFree Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,877 shares of the company’s stock after selling 5,614 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Palantir Technologies were worth $2,183,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the period. Morgan Stanley grew its position in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after buying an additional 4,675,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Palantir Technologies by 8.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock valued at $216,183,000 after buying an additional 955,992 shares during the period. Northern Trust Corp grew its position in Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after buying an additional 601,012 shares during the period. Finally, ARK Investment Management LLC grew its position in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after buying an additional 1,514,232 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PLTR. Wedbush reiterated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Monday, May 6th. Royal Bank of Canada increased their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. DA Davidson increased their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Argus began coverage on shares of Palantir Technologies in a research report on Monday. They set a “buy” rating and a $29.00 target price for the company. Finally, Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $21.25.

Get Our Latest Report on Palantir Technologies

Insider Transactions at Palantir Technologies

In other news, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the transaction, the director now owns 15,733,625 shares in the company, valued at $326,944,727.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,374,153 shares of company stock worth $239,976,945. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

NYSE PLTR traded up $0.80 on Wednesday, reaching $25.82. 54,458,580 shares of the company’s stock traded hands, compared to its average volume of 33,797,744. Palantir Technologies Inc. has a 12 month low of $13.56 and a 12 month high of $27.50. The stock has a 50-day simple moving average of $22.15 and a 200 day simple moving average of $21.14. The stock has a market cap of $57.50 billion, a PE ratio of 215.18, a P/E/G ratio of 5.78 and a beta of 2.70.

Palantir Technologies (NYSE:PLTRGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Palantir Technologies Company Profile

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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

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