$Palantir Technologies Inc.(PLTR)$
Toronto Dominion Bank reduced its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR–Get Rating) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 450,565 shares of the company’s stock after selling 332,175 shares during the quarter. Toronto Dominion Bank’s holdings in Palantir Technologies were worth $6,185,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Herold Advisors Inc. purchased a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $35,000. Allen Investment Management LLC boosted its stake in shares of Palantir Technologies by 368.9% during the 4th quarter. Allen Investment Management LLC now owns 469,132 shares of the company’s stock valued at $8,543,000 after buying an additional 369,083 shares during the last quarter. abrdn plc boosted its stake in shares of Palantir Technologies by 4.3% during the 4th quarter. abrdn plc now owns 140,819 shares of the company’s stock valued at $2,564,000 after buying an additional 5,744 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $101,000. Finally, Banque Pictet & Cie SA boosted its stake in shares of Palantir Technologies by 2.8% during the 1st quarter. Banque Pictet & Cie SA now owns 329,837 shares of the company’s stock valued at $4,529,000 after buying an additional 9,050 shares during the last quarter. 40.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Morgan Stanley reduced their target price on Palantir Technologies from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 9th. Monness Crespi & Hardt cut Palantir Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Royal Bank of Canada cut Palantir Technologies from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. Bank of America started coverage on Palantir Technologies in a research note on Tuesday, June 21st. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut Palantir Technologies from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $11.00 to $8.00 in a research note on Tuesday, August 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.00.
Insider Activity
In other news, insiderRyan D. Taylorsold 48,656 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $8.09, for a total transaction of $393,627.04. Following the transaction, the insider now directly owns 720,370 shares of the company’s stock, valued at $5,827,793.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available throughthe SEC website. In other news, insider Ryan D. Taylor sold 48,656 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $8.09, for a total transaction of $393,627.04. Following the transaction, the insider now directly owns 720,370 shares of the company’s stock, valued at $5,827,793.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available throughthe SEC website. Also, insiderDavid A. Glazersold 105,553 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $11.02, for a total value of $1,163,194.06. Following the transaction, the insider now directly owns 1,911,484 shares in the company, valued at $21,064,553.68. The disclosure for this sale can be foundhere. Over the last ninety days, insiders have sold 427,935 shares of company stock valued at $4,209,427. Company insiders own 13.22% of the company’s stock.
Palantir Technologies Stock Performance
PLTR stockopened at $9.91 on Monday. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of -36.70 and a beta of 3.79. Palantir Technologies Inc. has a 1 year low of $6.44 and a 1 year high of $29.29. The stock’s fifty day moving average is $9.47 and its two-hundred day moving average is $10.72.
Palantir Technologies (NYSE:PLTR–Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $473.00 million for the quarter, compared to analyst estimates of $471.72 million. Palantir Technologies had a negative net margin of 30.90% and a positive return on equity of 0.06%. Palantir Technologies’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post -0.07 EPS for the current fiscal year.
About Palantir Technologies
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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 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.
source:defenseworld
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