Sequoia Financial Advisors LLC Sells 2,265 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Sequoia Financial Advisors LLC lowered its position in Palantir Technologies Inc. (NYSE:PLTR) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,206 shares of the company’s stock after selling 2,265 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Palantir Technologies were worth $10,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the third quarter worth approximately $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies in the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the second quarter worth approximately $25,000. West Paces Advisors Inc. lifted its holdings in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies during the second quarter worth $30,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction dated 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 directly owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,747,176 shares of company stock worth $646,951,347 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $42.95 on Wednesday. The firm has a market capitalization of $96.18 billion, a price-to-earnings ratio of 252.66 and a beta of 2.72. The business has a fifty day moving average of $35.87 and a 200 day moving average of $28.28. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $44.39.

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

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Monness Crespi & Hardt lowered their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group upped their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Citigroup upped their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Northland Securities assumed coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $27.86.

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.