Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lowered its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,560,600 shares of the company’s stock after selling 64,700 shares during the period. 1832 Asset Management L.P. owned approximately 0.16% of Palantir Technologies worth $90,190,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. West Paces Advisors Inc. grew its holdings in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC grew its holdings in Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLTR shares. Northland Securities started coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. DA Davidson increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $37.20 on Monday. The company has a market cap of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. The firm’s 50-day moving average is $30.57 and its 200-day moving average is $25.92. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.35.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares in the company, valued at approximately $834,876. The disclosure for this sale can be found here. Insiders have sold a total of 5,383,238 shares of company stock worth $190,231,672 in the last ninety days. 12.93% of the stock is owned by insiders.

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.