Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,170 shares of the company’s stock after selling 2,813 shares during the period. GraniteShares Advisors LLC’s holdings in Palantir Technologies were worth $1,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% during 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 during the last quarter. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter valued at about $1,360,191,000. FMR LLC grew its holdings in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. Finally, DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $86.30.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $135.19 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $140.00. The firm’s 50-day moving average price is $114.28 and its 200-day moving average price is $94.12. The company has a market capitalization of $319.04 billion, a PE ratio of 711.56, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (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 company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the business posted $0.08 earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,816,925 shares of company stock valued at $215,448,358. 9.23% of the stock is currently owned by company insiders.

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.