Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lessened its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,644 shares of the company’s stock after selling 11,719 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Palantir Technologies were worth $991,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 1.6% in 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. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Palantir Technologies by 1.4% during the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after purchasing an additional 167,030 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its holdings in 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 worth $226,180,000 after buying an additional 1,580,548 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $43.42 on Tuesday. The stock has a market capitalization of $96.69 billion, a PE ratio of 361.83 and a beta of 2.72. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $44.39. The company has a fifty day moving average of $34.46 and a two-hundred day moving average of $27.59.

Palantir Technologies (NYSE:PLTR) last released its quarterly 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). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. Research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 in the company, valued at approximately $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. 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 17,829,855 shares of company stock valued at $649,272,355 over the last ninety days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Argus initiated coverage on Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Northland Securities began coverage on Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price on the stock. Finally, DA Davidson lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.29.

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.