Penserra Capital Management LLC cut its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 43.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investors owned 133,993 shares of the company’s stock after selling 102,468 shares during the period. Penserra Capital Management LLC’s holdings in Palantir Technologies were worth $1,131,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Utah Retirement Systems grew its holdings in Palantir Technologies by 1.4% during the 3rd quarter. Utah Retirement Systems now owns 95,700 shares of the company’s stock valued at $778,000 after buying an additional 1,300 shares in the last quarter. Redwood Wealth Management Group LLC grew its holdings in Palantir Technologies by 4.5% during the 1st quarter. Redwood Wealth Management Group LLC now owns 30,470 shares of the company’s stock valued at $257,000 after buying an additional 1,325 shares in the last quarter. Fiduciary Alliance LLC grew its holdings in Palantir Technologies by 2.5% during the 1st quarter. Fiduciary Alliance LLC now owns 58,833 shares of the company’s stock valued at $497,000 after buying an additional 1,420 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Palantir Technologies by 1.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 153,700 shares of the company’s stock valued at $2,110,000 after buying an additional 1,500 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in Palantir Technologies by 2.3% during the 3rd quarter. M&T Bank Corp now owns 69,717 shares of the company’s stock valued at $568,000 after buying an additional 1,561 shares in the last quarter. 31.57% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PLTR shares. Bank of America lifted their price target on Palantir Technologies from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, June 12th. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Raymond James downgraded Palantir Technologies from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $15.00 to $18.00 in a research report on Tuesday, June 20th. Finally, Jefferies Financial Group boosted their target price on Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $9.54.
Palantir Technologies Stock Up 1.4 %
Shares of NYSE:PLTR opened at $15.34 on Monday. Palantir Technologies Inc. has a 1 year low of $5.84 and a 1 year high of $17.16. The stock’s fifty day moving average price is $13.10 and its 200-day moving average price is $9.66.
Palantir Technologies (NYSE:PLTR – Free Report) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $525.19 million for the quarter, compared to the consensus estimate of $504.84 million. Palantir Technologies has a negative return on equity of 12.48% and a negative net margin of 12.88%. On average, analysts forecast that Palantir Technologies Inc. will post 0.05 EPS for the current year.
Insider Buying and Selling
In related news, Director Alexander D. Moore sold 37,076 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $15.38, for a total transaction of $570,228.88. Following the completion of the sale, the director now owns 1,808,819 shares in the company, valued at $27,819,636.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via the SEC website. In other news, insider Alexander C. Karp sold 325,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $15.40, for a total value of $5,005,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $99,056,773.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander D. Moore sold 37,076 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.38, for a total value of $570,228.88. Following the completion of the transaction, the director now directly owns 1,808,819 shares of the company’s stock, valued at approximately $27,819,636.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,959,599 shares of company stock worth $27,683,472. 13.96% of the stock is owned by corporate insiders.
Palantir Technologies Profile
(Free Report)
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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 facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.
Further Reading
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