MASTERINVEST Kapitalanlage GmbH Cuts Position in Palantir Technologies Inc. $PLTR

MASTERINVEST Kapitalanlage GmbH lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 21.5% in the first quarter, Holdings Channel.com reports. The fund owned 14,620 shares of the company’s stock after selling 4,000 shares during the quarter. MASTERINVEST Kapitalanlage GmbH’s holdings in Palantir Technologies were worth $2,139,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PLTR. Basepoint Wealth LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $29,000. Morton Brown Family Wealth LLC boosted its stake in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $31,000. Clayton Financial Group LLC grew its holdings in shares of Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $32,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 19,662 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares of the company’s stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Company insiders own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Wedbush started coverage on Palantir Technologies in a report on Tuesday, June 16th. They set an “outperform” rating for the company. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Friday, June 5th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and lowered their target price for the company from $205.00 to $151.00 in a report on Friday, May 1st. Wolfe Research upgraded Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Finally, DA Davidson raised Palantir Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $165.00 to $175.00 in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Moderate Buy” and an average target price of $190.85.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Palantir Technologies Price Performance

Shares of PLTR opened at $133.72 on Wednesday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The stock has a market cap of $320.57 billion, a price-to-earnings ratio of 150.25, a price-to-earnings-growth ratio of 2.08 and a beta of 1.56. The firm has a 50 day simple moving average of $132.36 and a 200-day simple moving average of $145.19.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.