Guided Capital Wealth Management LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Guided Capital Wealth Management LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 28.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,217 shares of the company’s stock after selling 14,363 shares during the quarter. Palantir Technologies accounts for approximately 2.6% of Guided Capital Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Guided Capital Wealth Management LLC’s holdings in Palantir Technologies were worth $3,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $281,000. Sagespring Wealth Partners LLC raised its position in shares of Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock worth $2,030,000 after acquiring an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $52,033,000. Finally, CX Institutional acquired a new stake in shares of Palantir Technologies during the 1st quarter worth about $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Daiwa America raised Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. DA Davidson raised their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.32.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last three months. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 1.3%

Shares of PLTR stock opened at $139.96 on Thursday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The company has a market capitalization of $330.29 billion, a P/E ratio of 608.52, a price-to-earnings-growth ratio of 11.66 and a beta of 2.64. The business’s 50 day moving average is $118.64 and its two-hundred day moving average is $96.13.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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.