Accurate Wealth Management LLC Sells 219 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Accurate Wealth Management LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,812 shares of the company’s stock after selling 219 shares during the period. Accurate Wealth Management LLC’s holdings in Palantir Technologies were worth $1,754,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp raised its stake 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 acquiring an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC boosted its stake in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% in the fourth 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 last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.4%

Shares of Palantir Technologies stock opened at $132.06 on Tuesday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $135.28. The firm has a market capitalization of $311.65 billion, a PE ratio of 695.09, a P/E/G ratio of 10.84 and a beta of 2.64. The firm’s 50-day moving average price is $110.90 and its 200 day moving average price is $93.06.

Palantir Technologies (NASDAQ:PLTR) last released 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 for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the business posted $0.08 earnings per share. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock valued at $369,820,528 in the last 90 days. 9.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLTR. Mizuho raised their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $83.95.

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.