Intech Investment Management LLC Sells 318,932 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Intech Investment Management LLC lessened its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 77.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,304 shares of the company’s stock after selling 318,932 shares during the period. Intech Investment Management LLC’s holdings in Palantir Technologies were worth $3,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after purchasing an additional 167,030 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after purchasing an additional 292,885 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Wedbush boosted their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.71.

Insider Activity

In related news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the 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 sale, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $64.35 on Friday. The company has a market capitalization of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70. The company’s 50-day simple moving average is $45.94 and its two-hundred day simple moving average is $33.39. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00.

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

Palantir Technologies Company 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.