Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,242 shares of the company’s stock after selling 12,149 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Palantir Technologies were worth $3,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. Finally, Beacon Capital Management LLC grew its position in Palantir Technologies by 269.5% in 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 in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 14,016 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the transaction, the insider now owns 331,369 shares in the company, valued at approximately $11,604,542.38. This represents a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 in the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 4.9 %

Shares of Palantir Technologies stock opened at $64.35 on Monday. The firm has a market capitalization of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00. The firm’s 50 day moving average is $45.94 and its two-hundred day moving average is $33.48.

Palantir Technologies (NYSE:PLTR) last announced 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 analyst estimates of $705.11 million. During the same period last year, the business earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLTR. Mizuho increased their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Citigroup raised their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.71.

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.