Hexagon Capital Partners LLC Decreases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Hexagon Capital Partners LLC cut its position in Palantir Technologies Inc. (NYSE:PLTR) by 21.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,187 shares of the company’s stock after selling 2,275 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Palantir Technologies were worth $188,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Pursue Wealth Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,741,000. Vanguard Group Inc. grew its stake in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after buying an additional 116,220 shares in the last quarter. Udine Wealth Management Inc. acquired a new stake in Palantir Technologies in the fourth quarter worth about $1,612,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after acquiring an additional 49,839 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $21.43, for a total transaction of $233,737.01. Following the transaction, the insider now owns 651,099 shares in the company, valued at $13,953,051.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,372,153 shares of company stock valued at $239,941,245. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLTR. DA Davidson lifted their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. HSBC boosted their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, May 7th. Citigroup boosted their price target on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Mizuho lifted their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $25.88 on Tuesday. Palantir Technologies Inc. has a 12 month low of $13.68 and a 12 month high of $27.50. The stock has a market capitalization of $57.62 billion, a PE ratio of 215.64, a price-to-earnings-growth ratio of 5.85 and a beta of 2.71. The business has a 50 day simple moving average of $22.72 and a 200-day simple moving average of $21.59.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.