Legacy Trust Has $254,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Legacy Trust lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,015 shares of the company’s stock after selling 400 shares during the quarter. Legacy Trust’s holdings in Palantir Technologies were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% in the fourth 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 in the last quarter. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% in the fourth 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 in the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies in the fourth quarter worth $1,360,191,000. FMR LLC lifted its position in shares of Palantir Technologies by 22.6% in the fourth 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 in the last quarter. Finally, Invesco Ltd. lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now owns 592 shares in the company, valued at $51,545.44. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,816,925 shares of company stock worth $215,448,358. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $135.19 on Friday. The company’s 50-day simple moving average is $114.28 and its 200 day simple 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 company has a market capitalization of $319.04 billion, a PE ratio of 711.56, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the company posted $0.08 earnings per share. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective on the stock. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Mizuho upped their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $86.30.

About Palantir Technologies

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.