Newbridge Financial Services Group Inc. Sells 26,965 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Newbridge Financial Services Group Inc. decreased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 25.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,118 shares of the company’s stock after selling 26,965 shares during the quarter. Palantir Technologies comprises 0.7% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 29th largest holding. Newbridge Financial Services Group Inc.’s holdings in Palantir Technologies were worth $1,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the second quarter valued at $25,000. West Paces Advisors Inc. increased its holdings in Palantir Technologies by 110.7% in 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 during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the last quarter. Finally, Halpern Financial Inc. raised its position in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Peter Thiel sold 4,181,118 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $36.91, for a total value of $154,325,065.38. Following the sale, the director now directly owns 38,502,451 shares in the company, valued at approximately $1,421,125,466.41. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the sale, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Thiel sold 4,181,118 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the transaction, the director now directly owns 38,502,451 shares of the company’s stock, valued at approximately $1,421,125,466.41. The disclosure for this sale can be found here. Insiders sold 17,814,881 shares of company stock valued at $648,616,023 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $36.49 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $38.19. The company has a market capitalization of $81.72 billion, a P/E ratio of 304.11 and a beta of 2.72. The stock has a 50 day moving average price of $31.76 and a two-hundred day moving average price of $26.51.

Palantir Technologies (NYSE:PLTR) last announced its quarterly 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). The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PLTR shares. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Northland Securities assumed 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. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies 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.