Central Valley Advisors LLC Sells 112 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Central Valley Advisors LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.8% during the first quarter, Holdings Channel.com reports. The fund owned 2,837 shares of the company’s stock after selling 112 shares during the period. Central Valley Advisors LLC’s holdings in Palantir Technologies were worth $239,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $1,360,191,000. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP boosted its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares during the last quarter. Invesco Ltd. grew its holdings in 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 acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors acquired a new stake in Palantir Technologies during the 4th quarter worth about $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 3.4%

NASDAQ PLTR opened at $132.06 on Tuesday. The company has a 50-day simple moving average of $110.90 and a two-hundred day simple moving average of $93.06. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28. The firm has a market cap of $311.65 billion, a price-to-earnings ratio of 695.09, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $863.89 million. During the same period last year, the company earned $0.08 EPS. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Loop Capital upped their target price on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Citigroup raised their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total value of $106,625,000.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 150,814 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $19,061,381.46. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $88,825,122.54. This trade represents a 17.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is currently owned by company insiders.

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.