Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,669,841 shares of the company’s stock after selling 249,402 shares during the period. Van ECK Associates Corp owned approximately 0.12% of Palantir Technologies worth $99,318,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC increased its position in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred 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 $46,663,360.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,204,508 shares of company stock worth $802,654,666. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $41.92 on Monday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $45.14. The company has a 50 day moving average price of $37.98 and a 200 day moving average price of $29.61. The stock has a market capitalization of $93.88 billion, a P/E ratio of 246.60 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 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 27.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. DA Davidson lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Northland Securities started coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.86.

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.