Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 20.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,480 shares of the company’s stock after selling 920 shares during the period. Chung Wu Investment Group LLC’s holdings in Palantir Technologies were worth $294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $450,000. Crestwood Advisors Group LLC grew its holdings in shares of Palantir Technologies by 113.1% during the fourth quarter. Crestwood Advisors Group LLC now owns 11,642 shares of the company’s stock valued at $880,000 after buying an additional 6,178 shares during the last quarter. Acorn Wealth Advisors LLC purchased a new position in Palantir Technologies in the 4th quarter worth $263,000. FourThought Financial Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $487,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Loop Capital set a $155.00 price target on Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $89.32.

Insider Transactions at Palantir Technologies

In related 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 in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock valued at $188,456,658 over the last quarter. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $142.90 on Thursday. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $147.67. The company’s 50 day simple moving average is $123.49 and its 200 day simple moving average is $98.53. The company has a market capitalization of $337.23 billion, a price-to-earnings ratio of 621.30, a PEG ratio of 12.23 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Company 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.