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

Los Angeles Capital Management LLC trimmed its position in Palantir Technologies Inc. (NYSE:PLTR) by 31.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,358 shares of the company’s stock after selling 144,164 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Palantir Technologies were worth $11,620,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares during the period. ARK Investment Management LLC raised its holdings in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the period. Legal & General Group Plc raised its holdings in shares of Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after buying an additional 292,885 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 3.2 %

Shares of NYSE PLTR opened at $60.27 on Tuesday. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $62.08. The company has a market capitalization of $134.97 billion, a price-to-earnings ratio of 301.37 and a beta of 2.70. The business has a 50 day simple moving average of $40.71 and a 200-day simple moving average of $30.98.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,462,878 shares of company stock worth $1,043,597,696 in the last three months. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $31.71.

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.