AQR Capital Management LLC Cuts Position in Palantir Technologies Inc. (NYSE:PLTR)

AQR Capital Management LLC lessened its position in Palantir Technologies Inc. (NYSE:PLTR) by 54.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 616,173 shares of the company’s stock after selling 746,060 shares during the quarter. AQR Capital Management LLC’s holdings in Palantir Technologies were worth $15,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PLTR. Summit Securities Group LLC bought a new stake in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. West Paces Advisors Inc. boosted its holdings in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the last quarter. Finally, Halpern Financial Inc. increased its stake in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PLTR shares. Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush boosted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Stock Down 1.9 %

PLTR opened at $36.49 on Wednesday. The stock has a market cap of $81.72 billion, a PE ratio of 304.11 and a beta of 2.72. The business has a 50 day moving average of $31.76 and a 200-day moving average of $26.51. Palantir Technologies Inc. has a 52 week low of $14.48 and a 52 week high of $38.19.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. Equities analysts anticipate 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 that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the transaction, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of 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. Over the last quarter, insiders have sold 17,814,881 shares of company stock worth $648,616,023. 12.93% of the stock is currently owned by company insiders.

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.