Brookstone Capital Management Sells 8,351 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Brookstone Capital Management lessened its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 26.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,624 shares of the company’s stock after selling 8,351 shares during the quarter. Brookstone Capital Management’s holdings in Palantir Technologies were worth $879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLTR. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 3.5% during the fourth 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. 1832 Asset Management L.P. grew its stake in Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after buying an additional 3,623,840 shares during the last quarter. Marshall Wace LLP increased its position in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Palantir Technologies by 2,722.2% in the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after acquiring an additional 1,655,997 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,831,855 shares of company stock worth $649,330,295 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Citigroup increased their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. DA Davidson upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Performance

PLTR stock opened at $43.51 on Friday. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $44.38. The firm’s fifty day moving average is $34.08 and its 200 day moving average is $27.42. The firm has a market cap of $97.44 billion, a PE ratio of 255.96 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned $0.01 earnings per share. Research analysts predict 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.