Brighton Jones LLC Sells 6,567 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Brighton Jones LLC reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 23.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,268 shares of the company’s stock after selling 6,567 shares during the quarter. Brighton Jones LLC’s holdings in Palantir Technologies were worth $791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC boosted its holdings in shares of Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the period. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the sale, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,747,176 shares of company stock valued at $646,951,347. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 3.0 %

NYSE:PLTR opened at $44.85 on Friday. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.07. The company has a market cap of $99.88 billion, a PE ratio of 373.75 and a beta of 2.72. The company has a 50 day simple moving average of $36.86 and a two-hundred day simple moving average of $28.77.

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). 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 during the quarter, compared to the consensus estimate of $653.23 million. During the same period last year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. Research analysts forecast 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 several research analyst reports. Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Mizuho lifted their target price on shares of Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, Northland Securities began coverage on shares of 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus 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.