Brand Asset Management Group Inc. Reduces Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Brand Asset Management Group Inc. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 22.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,930 shares of the company’s stock after selling 9,122 shares during the period. Palantir Technologies makes up 1.1% of Brand Asset Management Group Inc.’s portfolio, making the stock its 22nd largest holding. Brand Asset Management Group Inc.’s holdings in Palantir Technologies were worth $2,695,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth about $27,000. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth about $31,000. R Squared Ltd purchased a new position in shares of Palantir Technologies during the 4th quarter worth about $33,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Palantir Technologies during the 4th quarter worth about $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $133.17 on Wednesday. Palantir Technologies Inc. has a one year low of $21.04 and a one year high of $135.28. The firm has a market cap of $314.27 billion, a P/E ratio of 700.93, a P/E/G ratio of 10.84 and a beta of 2.64. The firm has a 50-day simple moving average of $107.55 and a 200-day simple moving average of $91.04.

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 net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies 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 transaction, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. The trade was a 19.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on PLTR shares. Northland Securities lifted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Mizuho lifted their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 6th. Citigroup lifted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.95.

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.