International Assets Investment Management LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

International Assets Investment Management LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 179,225 shares of the company’s stock after selling 10,705 shares during the period. Palantir Technologies makes up about 0.4% of International Assets Investment Management LLC’s holdings, making the stock its 18th biggest holding. International Assets Investment Management LLC’s holdings in Palantir Technologies were worth $15,127,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp lifted its holdings in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC lifted its stake in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $139.92 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The stock’s fifty day moving average is $121.59 and its two-hundred day moving average is $97.91. The firm has a market capitalization of $330.20 billion, a P/E ratio of 608.35, a PEG ratio of 11.72 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 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter last year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on PLTR shares. 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 report on Tuesday, May 6th. DA Davidson boosted 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. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $89.32.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. 12.93% of the stock is currently owned by 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.