Janney Montgomery Scott LLC Trims Stake in Palantir Technologies Inc. (NYSE:PLTR)

Janney Montgomery Scott LLC trimmed its position in Palantir Technologies Inc. (NYSE:PLTR) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 431,520 shares of the company’s stock after selling 40,188 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palantir Technologies were worth $16,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new position in Palantir Technologies in the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth $30,000. Finally, Beacon Capital Management LLC boosted its position in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 23.5 %

Shares of NYSE:PLTR opened at $51.15 on Wednesday. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $51.58. The company has a market cap of $114.55 billion, a PE ratio of 300.90 and a beta of 2.70. The company’s 50 day moving average is $38.19 and its 200 day moving average is $29.75.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the sale, the insider now owns 612,006 shares in the company, valued at $18,507,061.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the sale, the insider now owns 612,006 shares in the company, valued at $18,507,061.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,204,508 shares of company stock worth $802,654,666. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PLTR shares. Citigroup increased their price target 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. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wedbush boosted their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.93.

Palantir Technologies Company 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.