West Michigan Advisors LLC Sells 3,435 Shares of Palantir Technologies Inc. (NYSE:PLTR)

West Michigan Advisors LLC decreased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 30.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,919 shares of the company’s stock after selling 3,435 shares during the period. West Michigan Advisors LLC’s holdings in Palantir Technologies were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies in the 2nd quarter worth $30,000. Finally, Ashburton Jersey Ltd bought a new position in Palantir Technologies in the 2nd quarter worth $36,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Five 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.86.

Insider Activity

In related news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $44.85 on Friday. The company has a market capitalization of $99.88 billion, a P/E ratio of 373.75 and a beta of 2.72. The company’s 50-day simple moving average is $36.86 and its two-hundred day simple moving average is $28.77. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $45.07.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Palantir Technologies Company 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.