Moors & Cabot Inc. Sells 18,530 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Moors & Cabot Inc. cut its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,455 shares of the company’s stock after selling 18,530 shares during the quarter. Moors & Cabot Inc.’s holdings in Palantir Technologies were worth $4,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the 3rd quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the second quarter valued at $25,000. Creekmur Asset Management LLC lifted its holdings in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE boosted its position in Palantir Technologies by 47.5% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wedbush lifted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,551,467 shares of company stock valued at $1,435,420,536. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR traded down $2.84 during trading hours on Wednesday, hitting $60.14. 20,184,906 shares of the stock were exchanged, compared to its average volume of 58,624,000. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The company has a market cap of $137.00 billion, a price-to-earnings ratio of 314.87 and a beta of 2.70. The stock’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $32.64.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current 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.