Integrated Advisors Network LLC Sells 810 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Integrated Advisors Network LLC cut its position in Palantir Technologies Inc. (NYSE:PLTR) by 2.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,366 shares of the company’s stock after selling 810 shares during the quarter. Integrated Advisors Network LLC’s holdings in Palantir Technologies were worth $1,130,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Diversified Trust Co increased its holdings in shares of Palantir Technologies by 7.9% during the first quarter. Diversified Trust Co now owns 22,671 shares of the company’s stock valued at $522,000 after acquiring an additional 1,669 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Palantir Technologies by 218.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 60,720 shares of the company’s stock valued at $1,397,000 after acquiring an additional 41,666 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Palantir Technologies by 43.9% during the first quarter. First Trust Direct Indexing L.P. now owns 21,291 shares of the company’s stock valued at $490,000 after acquiring an additional 6,491 shares in the last quarter. Accel Wealth Management acquired a new position in shares of Palantir Technologies during the first quarter valued at about $360,000. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Palantir Technologies by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 151,097 shares of the company’s stock valued at $3,209,000 after acquiring an additional 2,887 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft upped 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. Monness Crespi & Hardt dropped their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock 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 report on Monday, September 23rd. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Citigroup upped their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Trading Down 2.7 %

Palantir Technologies stock opened at $43.72 on Thursday. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.14. The firm has a market cap of $97.91 billion, a PE ratio of 257.18 and a beta of 2.72. The stock’s 50 day simple moving average is $37.58 and its two-hundred day simple moving average is $29.27.

Palantir Technologies (NYSE:PLTR) last announced 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). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the business earned $0.01 EPS. The company’s quarterly revenue was up 27.2% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity

In related news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,204,508 shares of company stock worth $802,654,666 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

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.