Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by First Business Financial Services Inc.

First Business Financial Services Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,991 shares of the company’s stock after selling 820 shares during the period. First Business Financial Services Inc.’s holdings in Palantir Technologies were worth $372,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after acquiring an additional 3,623,840 shares during the last quarter. Marshall Wace LLP lifted its stake in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after purchasing an additional 1,969,213 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Trading Down 2.5 %

Shares of NYSE PLTR opened at $59.19 on Friday. The business’s 50 day moving average is $42.48 and its 200-day moving average is $31.65. The firm has a market cap of $132.55 billion, a P/E ratio of 295.96 and a beta of 2.70. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $63.39.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was 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. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,239,238 shares of company stock valued at $1,036,731,557. Insiders own 12.93% of the company’s stock.

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.