Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its stake in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 24.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,088 shares of the company's stock after selling 12,379 shares during the period. MAI Capital Management's holdings in Palantir Technologies were worth $1,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after purchasing an additional 808,444 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company's stock worth $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc raised its position in shares of Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company's stock worth $301,871,000 after purchasing an additional 167,030 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Palantir Technologies by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company's stock valued at $185,575,000 after acquiring an additional 292,885 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business's 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 transaction, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,547,056 shares of company stock valued at $1,500,642,721. Company insiders own 12.93% of the company's stock.

Palantir Technologies Trading Down 1.4 %

Shares of Palantir Technologies stock opened at $62.11 on Thursday. The company has a fifty day moving average price of $44.83 and a 200 day moving average price of $32.84. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. 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 (NYSE:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $705.11 million. During the same period in the prior year, the company earned $0.03 EPS. The firm's revenue was up 30.0% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLTR. Northland Capmk upgraded Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a "sell" rating in a report on Tuesday, August 6th. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $31.71.

Palantir Technologies Company 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.