BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 26,272 Shares of Palantir Technologies Inc. (NYSE:PLTR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,895 shares of the company's stock after selling 26,272 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Palantir Technologies were worth $12,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the 2nd quarter valued at $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at $36,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Wedbush increased their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. Jefferies Financial Group downgraded shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Royal Bank of Canada restated an "underperform" rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a report on Tuesday, August 6th. Finally, Mizuho increased their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an "underperform" rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.64.

Palantir Technologies Trading Up 1.6 %

NYSE PLTR traded up $1.03 during trading hours on Friday, hitting $67.08. 30,104,047 shares of the company's stock were exchanged, compared to its average volume of 81,569,840. The firm has a market cap of $152.81 billion, a price-to-earnings ratio of 335.40, a PEG ratio of 9.07 and a beta of 2.70. The stock has a 50-day simple moving average of $48.86 and a 200 day simple moving average of $35.05. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $67.88.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm posted $0.03 EPS. The company's quarterly revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,050 shares of Palantir Technologies stock in a transaction dated 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 transaction, the director now directly owns 158,280 shares in the company, valued at $5,253,313.20. This trade represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 155,539 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 331,369 shares of the company's stock, valued at approximately $11,604,542.38. The trade was a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,163,181 shares of company stock valued at $1,603,288,758. Corporate 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.