Duality Advisers LP Trims Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Duality Advisers LP reduced its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 24.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 180,321 shares of the company’s stock after selling 59,002 shares during the period. Duality Advisers LP’s holdings in Palantir Technologies were worth $4,149,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Geneos Wealth Management Inc. increased its stake in Palantir Technologies by 7.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 12,118 shares of the company’s stock valued at $279,000 after buying an additional 842 shares during the period. Signaturefd LLC increased its position in Palantir Technologies by 8.5% during the 1st quarter. Signaturefd LLC now owns 39,999 shares of the company’s stock worth $920,000 after purchasing an additional 3,136 shares during the period. Mediolanum International Funds Ltd acquired a new position in Palantir Technologies during the first quarter worth $597,000. RIA Advisory Group LLC purchased a new position in Palantir Technologies in the first quarter worth $287,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth $121,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup boosted their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. HSBC raised their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Friday, June 21st. Finally, Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.25.

Insider Activity

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares in the company, valued at approximately $834,876. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. In the last three months, insiders sold 11,375,179 shares of company stock worth $240,025,973. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $0.44 during midday trading on Friday, hitting $28.08. 22,878,945 shares of the stock were exchanged, compared to its average volume of 55,740,699. The company has a 50 day moving average price of $23.50 and a two-hundred day moving average price of $22.05. The firm has a market cap of $62.53 billion, a P/E ratio of 232.77, a P/E/G ratio of 6.56 and a beta of 2.71. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $28.59.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. As a group, analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

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.