Capital Market Strategies LLC Lowers Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Capital Market Strategies LLC cut its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,704 shares of the company’s stock after selling 721 shares during the period. Palantir Technologies accounts for 1.1% of Capital Market Strategies LLC’s holdings, making the stock its 17th biggest position. Capital Market Strategies LLC’s holdings in Palantir Technologies were worth $1,775,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC raised its holdings in Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after acquiring an additional 360 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after purchasing an additional 379 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Palantir Technologies by 21.4% in the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after buying an additional 406 shares during the period. Apella Capital LLC increased its holdings in shares of Palantir Technologies by 3.7% during the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock worth $323,000 after buying an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of Palantir Technologies by 1.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after buying an additional 416 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Peter Thiel sold 4,181,118 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the completion of the sale, the director now directly owns 38,502,451 shares of the company’s stock, valued at approximately $1,421,125,466.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 4,181,118 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the completion of the sale, the director now owns 38,502,451 shares in the company, valued at $1,421,125,466.41. The disclosure for this sale can be found here. Insiders have sold a total of 17,814,881 shares of company stock valued at $648,616,023 over the last quarter. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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. Northland Securities started coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Jefferies Financial Group increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Price Performance

NYSE:PLTR opened at $39.25 on Friday. The business’s fifty day moving average price is $32.23 and its 200 day moving average price is $26.67. The firm has a market capitalization of $87.90 billion, a PE ratio of 327.11 and a beta of 2.72. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $39.29.

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). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.