Palantir Technologies Inc. (NYSE:PLTR) Holdings Decreased by Stephens Inc. AR

Stephens Inc. AR reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 525,155 shares of the company’s stock after selling 49,630 shares during the quarter. Stephens Inc. AR’s holdings in Palantir Technologies were worth $19,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,204,508 shares of company stock worth $802,654,666. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. Mizuho boosted their target price on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Monness Crespi & Hardt decreased their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $41.56 on Friday. The firm has a market cap of $93.07 billion, a price-to-earnings ratio of 244.48 and a beta of 2.72. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $45.14. The stock has a 50-day simple moving average of $37.77 and a 200-day simple moving average of $29.36.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Palantir Technologies Profile

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.