JT Stratford LLC Sells 37,818 Shares of Palantir Technologies Inc. $PLTR

JT Stratford LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 54.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,050 shares of the company’s stock after selling 37,818 shares during the period. JT Stratford LLC’s holdings in Palantir Technologies were worth $2,705,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter worth $25,000. Cornerstone Planning Group LLC lifted its holdings in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after buying an additional 185 shares during the period. Richardson Capital Management LLC acquired a new position in Palantir Technologies during the 1st quarter worth about $33,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock worth $34,000 after buying an additional 125 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company’s stock worth $35,000 after buying an additional 224 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $174.03 on Tuesday. The stock’s 50 day simple moving average is $151.87 and its 200 day simple moving average is $120.39. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The company has a market cap of $412.86 billion, a P/E ratio of 580.12, a price-to-earnings-growth ratio of 9.99 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America lifted their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Wall Street Zen raised Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, UBS Group reaffirmed a “neutral” rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $136.61.

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 that occurred on Tuesday, June 10th. The stock was 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 directly owned 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 34,357 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total value of $4,327,607.72. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at $74,568.32. This represents a 98.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 628,140 shares of company stock worth $84,302,509 in the last quarter. Company insiders own 12.93% of the company’s stock.

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.