Palantir Technologies Inc. (NYSE:PLTR) Holdings Decreased by Brighton Jones LLC

Brighton Jones LLC cut its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 6.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,835 shares of the company’s stock after selling 1,999 shares during the period. Brighton Jones LLC’s holdings in Palantir Technologies were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Palantir Technologies in the 2nd quarter worth about $330,000. Mark Sheptoff Financial Planning LLC raised its stake in Palantir Technologies by 6.0% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 75,525 shares of the company’s stock worth $1,913,000 after acquiring an additional 4,300 shares during the period. Concorde Asset Management LLC lifted its holdings in Palantir Technologies by 2.4% in the second quarter. Concorde Asset Management LLC now owns 19,344 shares of the company’s stock worth $490,000 after acquiring an additional 456 shares during the last quarter. MRP Capital Investments LLC boosted its stake in Palantir Technologies by 55.7% in the second quarter. MRP Capital Investments LLC now owns 45,075 shares of the company’s stock valued at $1,142,000 after acquiring an additional 16,125 shares during the period. Finally, LJI Wealth Management LLC bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $1,034,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Argus assumed coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Citigroup upped their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.79.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now directly owns 152,280 shares in the company, valued at $5,535,378. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the transaction, the director now owns 152,280 shares in the company, valued at $5,535,378. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Insiders have sold a total of 5,383,238 shares of company stock valued at $190,231,672 over the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $37.20 on Friday. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $37.35. The stock has a market capitalization of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. The firm has a 50 day simple moving average of $30.57 and a 200-day simple moving average of $25.90.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal 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.