OVERSEA CHINESE BANKING Corp Ltd Sells 6,327 Shares of Palantir Technologies Inc. $PLTR

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,563 shares of the company’s stock after selling 6,327 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palantir Technologies were worth $7,959,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 4.0% in the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after purchasing an additional 8,168,604 shares during the period. State Street Corp increased its position in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares during the period. Invesco Ltd. increased its position in shares of Palantir Technologies by 5.9% in the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock worth $3,976,534,000 after purchasing an additional 1,213,529 shares during the period. Northern Trust Corp increased its position in shares of Palantir Technologies by 3.8% in the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock worth $3,846,957,000 after purchasing an additional 769,238 shares during the period. Finally, Amundi increased its position in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after purchasing an additional 4,373,201 shares during the period. Institutional investors own 45.65% of the company’s stock.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Insider Activity

In other news, insider Shyam Sankar sold 168,004 shares of Palantir Technologies stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.72, for a total transaction of $22,465,494.88. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $85,953,343.92. This trade represents a 20.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 17,438 shares of Palantir Technologies stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,331,809.36. Following the sale, the insider directly owned 392,370 shares in the company, valued at $52,467,716.40. The trade was a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,029,879 shares of company stock valued at $137,746,253. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Argus raised Palantir Technologies to a “hold” rating in a research note on Monday, February 9th. Freedom Capital raised Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, February 13th. Jefferies Financial Group set a $208.00 price objective on Palantir Technologies in a research note on Thursday, January 22nd. Daiwa Securities Group raised Palantir Technologies from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, February 10th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Palantir Technologies in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.32.

Read Our Latest Analysis on Palantir Technologies

Palantir Technologies Stock Up 0.1%

NASDAQ:PLTR opened at $145.97 on Wednesday. The stock’s 50-day simple moving average is $143.91 and its 200 day simple moving average is $164.36. The firm has a market capitalization of $349.11 billion, a PE ratio of 231.70, a price-to-earnings-growth ratio of 2.81 and a beta of 1.68. Palantir Technologies Inc. has a twelve month low of $91.35 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings data on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $0.14 earnings per share. Palantir Technologies’s revenue was up 70.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 1.05 EPS for the current fiscal year.

About Palantir Technologies

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

See Also

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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