Seed Wealth Management Inc. Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Seed Wealth Management Inc. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,040 shares of the company’s stock after selling 860 shares during the quarter. Palantir Technologies makes up 1.1% of Seed Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest position. Seed Wealth Management Inc.’s holdings in Palantir Technologies were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Tallon Kerry Patrick purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $289,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $15,177,000. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $450,000. Allspring Global Investments Holdings LLC boosted its position in shares of Palantir Technologies by 46.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company’s stock worth $13,421,000 after acquiring an additional 56,299 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $296,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last 90 days. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PLTR shares. Morgan Stanley raised their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. DA Davidson raised their target price 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. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price on the stock. Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, UBS Group raised their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report 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.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $89.32.

Palantir Technologies Trading Down 2.3%

Shares of NASDAQ:PLTR opened at $138.20 on Wednesday. The company has a fifty day simple moving average of $117.68 and a 200 day simple moving average of $95.83. The firm has a market cap of $326.14 billion, a PE ratio of 600.87, a price-to-earnings-growth ratio of 11.93 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.