Ensign Peak Advisors Inc Lowers Stake in Palantir Technologies Inc. (NYSE:PLTR)

Ensign Peak Advisors Inc reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.6% in the second quarter, HoldingsChannel.com reports. The fund owned 1,978,317 shares of the company’s stock after selling 32,277 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Palantir Technologies were worth $50,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. SG Americas Securities LLC boosted its stake in Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after buying an additional 102,479 shares in the last quarter. Accel Wealth Management bought a new position in Palantir Technologies during the first quarter valued at approximately $360,000. ProShare Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $262,000. Finally, Wells Fargo & Company MN raised its stake in shares of Palantir Technologies by 18.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,200,037 shares of the company’s stock worth $54,945,000 after acquiring an additional 498,957 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. Insiders have sold 5,383,238 shares of company stock worth $190,231,672 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 1.0 %

Shares of 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 company has a market cap of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. The company’s fifty day simple moving average is $30.57 and its two-hundred day simple moving average is $25.90.

Palantir Technologies (NYSE:PLTR) last posted 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). 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 firm posted $0.01 earnings per share. The business’s revenue was up 27.2% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Securities assumed coverage on Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price for the company. Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Palantir Technologies in a report on Monday, September 9th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a research note 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 data from MarketBeat, the company presently 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.