Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC lowered its position in Palantir Technologies Inc. (NYSE:PLTR) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,608 shares of the company’s stock after selling 721 shares during the period. ClariVest Asset Management LLC’s holdings in Palantir Technologies were worth $1,789,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after purchasing an additional 3,623,840 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $46,542,000. Coatue Management LLC raised its position in shares of Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after purchasing an additional 2,553,432 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.3 %

NYSE:PLTR opened at $34.85 on Thursday. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $35.20. The stock’s fifty day moving average is $29.34 and its two-hundred day moving average is $25.34. The company has a market capitalization of $77.61 billion, a P/E ratio of 290.42, a P/E/G ratio of 5.35 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data 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 company had revenue of $678.13 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now owns 29,817 shares in the company, valued at approximately $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares in the company, valued at approximately $853,918. The disclosure for this sale can be found here. In the last three months, insiders have sold 724,699 shares of company stock worth $22,329,596. 12.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. Citigroup increased their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Raymond James increased their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $26.79.

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.