Canal Capital Management LLC Has $292,000 Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Canal Capital Management LLC decreased its position in Palantir Technologies Inc. (NYSE:PLTR) by 5.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,859 shares of the company’s stock after selling 439 shares during the period. Canal Capital Management LLC’s holdings in Palantir Technologies were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $30,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Palantir Technologies by 269.5% during the 1st 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 during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PLTR shares. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Northland Securities initiated coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.86.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $43.88 on Friday. The firm’s 50-day moving average is $36.60 and its 200-day moving average is $28.62. The company has a market cap of $98.27 billion, a price-to-earnings ratio of 256.22 and a beta of 2.72. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $44.39.

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