Banque Cantonale Vaudoise Reduces Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Banque Cantonale Vaudoise lowered its stake in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 51.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,586 shares of the company's stock after selling 49,024 shares during the period. Banque Cantonale Vaudoise's holdings in Palantir Technologies were worth $1,733,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC raised its holdings in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock valued at $35,000 after acquiring an additional 1,105 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.4 %

Shares of NYSE PLTR opened at $62.11 on Thursday. The stock's 50-day moving average is $44.83 and its 200 day moving average is $32.84. The stock has a market cap of $141.49 billion, a price-to-earnings ratio of 310.57 and a beta of 2.70. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00.

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

Analyst Ratings Changes

A number of research firms have recently commented on PLTR. Bank of America raised their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Raymond James downgraded Palantir Technologies from an "outperform" rating to a "market perform" rating in a research note on Monday, September 23rd. Citigroup upped their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a "sell" rating in a research report on Tuesday, August 6th. Finally, Mizuho upped their target price on shares of 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 assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $31.71.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 155,539 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares of the company's stock, valued at approximately $11,604,542.38. This represents a 31.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,547,056 shares of company stock valued at $1,500,642,721 over the last three months. Insiders own 12.93% of the company's stock.

Palantir Technologies Profile

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.