Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 77.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 95,304 shares of the company’s stock after selling 318,932 shares during the period. Intech Investment Management LLC’s holdings in Palantir Technologies were worth $3,545,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in Palantir Technologies by 76.0% in the third quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock worth $1,996,000 after acquiring an additional 23,178 shares in the last quarter. Kirtland Hills Capital Management LLC boosted its stake in Palantir Technologies by 128.2% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 27,312 shares of the company’s stock worth $1,016,000 after purchasing an additional 15,344 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in Palantir Technologies during the 3rd quarter valued at approximately $927,000. Prospera Private Wealth LLC purchased a new position in shares of Palantir Technologies in the third quarter worth $49,000. Finally, Avior Wealth Management LLC lifted its stake in shares of Palantir Technologies by 30.1% during the third quarter. Avior Wealth Management LLC now owns 8,525 shares of the company’s stock worth $317,000 after buying an additional 1,970 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 4.9 %

Shares of PLTR stock opened at $64.35 on Friday. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The business’s 50 day moving average is $45.94 and its two-hundred day moving average is $33.39. The company has a market capitalization of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock worth $1,603,067,889 in the last 90 days. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PLTR shares. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies 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.