EMC Capital Management Sells 4,000 Shares of Palantir Technologies Inc. (NYSE:PLTR)

EMC Capital Management reduced its stake in Palantir Technologies Inc. (NYSE:PLTR) by 61.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,500 shares of the company’s stock after selling 4,000 shares during the period. EMC Capital Management’s holdings in Palantir Technologies were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. First United Bank & Trust bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $26,000. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Bogart Wealth LLC boosted its stake in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after buying an additional 1,065 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Palantir Technologies during the fourth quarter worth $33,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Citigroup upped their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, HSBC upped their target price on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.96.

Palantir Technologies Trading Down 5.1 %

PLTR stock opened at $24.74 on Friday. The stock has a 50-day moving average price of $25.37 and a 200-day moving average price of $23.24. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $29.83. The firm has a market cap of $55.09 billion, a PE ratio of 206.18, a price-to-earnings-growth ratio of 6.02 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share 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 firm had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. On average, analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In other news, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the sale, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now owns 651,099 shares in the company, valued at approximately $13,953,051.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. Insiders sold a total of 11,447,179 shares of company stock worth $242,285,913 in the last three months. Company 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.