Verus Capital Partners LLC Cuts Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Verus Capital Partners LLC decreased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 9.1% in the second quarter, Holdings Channel reports. The firm owned 41,436 shares of the company’s stock after selling 4,171 shares during the quarter. Verus Capital Partners LLC’s holdings in Palantir Technologies were worth $1,050,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PLTR. Summit Securities Group LLC bought a new position in Palantir Technologies during the 2nd quarter valued at about $25,000. First United Bank & Trust purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $26,000. West Paces Advisors Inc. lifted its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after buying an additional 1,065 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLTR. Wedbush reiterated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Friday, August 2nd. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Northland Securities initiated coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. Monness Crespi & Hardt cut their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, Argus initiated coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. Insiders sold a total of 714,648 shares of company stock valued at $21,567,539 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 1.5 %

PLTR stock traded up $0.48 during trading on Monday, reaching $31.48. The company’s stock had a trading volume of 42,388,000 shares, compared to its average volume of 54,656,816. The company’s fifty day moving average is $28.21 and its 200-day moving average is $24.88. The company has a market capitalization of $70.50 billion, a P/E ratio of 262.36, a price-to-earnings-growth ratio of 5.55 and a beta of 2.71. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $33.13.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the prior year, the business posted $0.01 EPS. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. Analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current 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.