Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 24.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 70,407 shares of the company’s stock after selling 22,397 shares during the period. D.A. Davidson & CO.’s holdings in Palantir Technologies were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Walter & Keenan Wealth Management LLC IN ADV boosted its position in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC grew its position in shares of Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares during the last quarter. Quantum Private Wealth LLC increased its holdings in shares of Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares during the period. Truvestments Capital LLC raised its position in Palantir Technologies by 2.4% in the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after purchasing an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc boosted its stake in Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLTR. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wedbush upped their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Mizuho boosted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Six investment 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, the stock has an average rating of “Hold” and a consensus price target of $35.64.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,007,496 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $63.96, for a total value of $64,439,444.16. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. This represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.6 %

PLTR stock opened at $67.08 on Friday. The firm has a 50 day moving average of $48.86 and a 200-day moving average of $34.87. The company has a market cap of $152.81 billion, a price-to-earnings ratio of 335.42, a PEG ratio of 8.93 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $67.88.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the business earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal 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.