Probity Advisors Inc. Reduces Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Probity Advisors Inc. lowered its position in Palantir Technologies Inc. (NYSE:PLTR) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,484 shares of the company’s stock after selling 1,024 shares during the quarter. Probity Advisors Inc.’s holdings in Palantir Technologies were worth $539,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Seven Grand Managers LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at $930,000. Perpetual Ltd acquired a new stake in shares of Palantir Technologies during the third quarter valued at $483,000. Axiom Advisory LLC boosted its stake in shares of Palantir Technologies by 150.3% during the third quarter. Axiom Advisory LLC now owns 74,285 shares of the company’s stock valued at $2,763,000 after acquiring an additional 44,612 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Palantir Technologies by 21.4% during the third quarter. Park Avenue Securities LLC now owns 128,221 shares of the company’s stock valued at $4,770,000 after acquiring an additional 22,645 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after acquiring an additional 102,479 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 a number of analyst reports. Bank of America increased 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. Northland Securities initiated coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective on the stock. Wedbush increased their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Mizuho increased their price objective on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Five equities research 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. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $27.86.

Palantir Technologies Price Performance

NYSE PLTR opened at $42.13 on Thursday. The firm has a market capitalization of $93.82 billion, a P/E ratio of 349.17 and a beta of 2.72. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $44.39. The business’s 50-day simple moving average is $35.09 and its 200-day simple moving average is $27.82.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data 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 business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now owns 372,565 shares in the company, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock valued at $646,951,347 in the last three months. Corporate insiders own 12.93% of the company’s stock.

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.