Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies in the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC boosted its stake in Palantir Technologies by 269.5% during the 1st 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 last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the topic of several research reports. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. 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 report on Monday, July 29th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.93.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This 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 can be accessed through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,204,508 shares of company stock valued at $802,654,666 in the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $51.15 on Wednesday. The firm has a market cap of $114.55 billion, a P/E ratio of 300.90 and a beta of 2.70. The firm’s 50 day moving average price is $38.19 and its 200-day moving average price is $29.75. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $51.58.

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

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.