Marietta Investment Partners LLC Sells 690 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Marietta Investment Partners LLC lessened its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.7% in the second quarter, HoldingsChannel.com reports. The fund owned 39,120 shares of the company’s stock after selling 690 shares during the period. Marietta Investment Partners LLC’s holdings in Palantir Technologies were worth $991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Palantir Technologies by 183.3% during the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares during the period. Accel Wealth Management bought a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $360,000. ProShare Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $262,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Palantir Technologies by 18.5% during the 4th 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 during the period. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, 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 transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction on 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 directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock worth $190,231,672 over the last three months. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PLTR shares. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Palantir Technologies in a research report on Monday, September 9th. DA Davidson upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Argus started coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Monness Crespi & Hardt lowered their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Up 1.0 %

PLTR opened at $37.20 on Monday. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $37.35. The company has a fifty day moving average of $30.57 and a 200-day moving average of $25.92. The stock has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72.

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 return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS 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.