Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Brighton Jones LLC

Brighton Jones LLC lowered its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,835 shares of the company’s stock after selling 1,999 shares during the quarter. Brighton Jones LLC’s holdings in Palantir Technologies were worth $705,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after buying an additional 3,623,840 shares during the period. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $46,542,000. Coatue Management LLC boosted its stake in Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after buying an additional 2,553,432 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $37.20 on Friday. The firm has a market cap of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.35. The stock has a 50-day simple moving average of $30.57 and a 200-day simple moving average of $25.90.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The disclosure for this sale can be found here. Insiders have sold 5,383,238 shares of company stock worth $190,231,672 in the last quarter. 12.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Northland Securities began coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Finally, Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.79.

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.