Intech Investment Management LLC Has $10.49 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Intech Investment Management LLC trimmed its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 72.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 414,236 shares of the company’s stock after selling 1,100,911 shares during the period. Intech Investment Management LLC’s holdings in Palantir Technologies were worth $10,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. boosted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in 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 acquiring an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC lifted its stake in Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the firm’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 owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $84,728.00. Following the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the sale, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock valued at $190,231,672 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James upped their target price on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Performance

Shares of PLTR opened at $37.20 on Friday. The firm has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $37.35. The business’s 50 day moving average price is $30.57 and its two-hundred day moving average price is $25.90.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. Research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal 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.