Integrated Advisors Network LLC Lowers Position in Palantir Technologies Inc. (NYSE:PLTR)

Integrated Advisors Network LLC cut its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm 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 quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares during the period. ARK Investment Management LLC boosted its stake in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the period. Legal & General Group Plc boosted its stake in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in shares of Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after buying an additional 1,580,548 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Palantir Technologies by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after buying an additional 292,885 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTR. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Securities began coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price on the stock. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Jefferies Financial Group boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Five equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $43.72 on Thursday. The business’s fifty day moving average price is $37.58 and its 200 day moving average price is $29.27. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $45.14. The firm has a market capitalization of $97.91 billion, a PE ratio of 257.18 and a beta of 2.72.

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

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. 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 a total of 21,204,508 shares of company stock valued at $802,654,666 over the last quarter. Insiders own 12.93% of the company’s stock.

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.