D.A. Davidson & CO. Reduces Position in Palantir Technologies Inc. (NYSE:PLTR)

D.A. Davidson & CO. reduced its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,407 shares of the company’s stock after selling 22,397 shares during the period. D.A. Davidson & CO.’s holdings in Palantir Technologies were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Swedbank AB purchased a new position in Palantir Technologies in the 1st quarter worth approximately $303,000. Burney Co. purchased a new stake in Palantir Technologies in the 1st quarter valued at $226,000. Cetera Advisors LLC increased its stake in shares of Palantir Technologies by 51.3% in the 1st quarter. Cetera Advisors LLC now owns 163,382 shares of the company’s stock worth $3,759,000 after acquiring an additional 55,375 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Palantir Technologies by 49.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,012 shares of the company’s stock worth $51,000 after acquiring an additional 665 shares during the last quarter. Finally, HBW Advisory Services LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter worth $249,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.6 %

Palantir Technologies stock opened at $67.08 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $67.88. The firm has a market cap of $152.81 billion, a PE ratio of 335.42, a price-to-earnings-growth ratio of 8.93 and a beta of 2.70. The company’s 50 day moving average is $48.86 and its two-hundred day moving average is $34.87.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent analyst reports. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wedbush increased their price objective on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Mizuho increased their price target on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.64.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 6,050 shares of Palantir Technologies stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.19, for a total transaction of $200,799.50. Following the completion of the sale, the director now directly owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,163,181 shares of company stock worth $1,603,288,758. 12.93% of the stock is currently owned by company insiders.

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.