Fairscale Capital LLC Sells 784 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Fairscale Capital LLC lessened its position in Palantir Technologies Inc. (NYSE:PLTR) by 10.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,822 shares of the company’s stock after selling 784 shares during the period. Fairscale Capital LLC’s holdings in Palantir Technologies were worth $254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. ProShare Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter worth approximately $262,000. CreativeOne Wealth LLC bought a new position in shares of Palantir Technologies in the first quarter worth approximately $371,000. Axxcess Wealth Management LLC lifted its stake in shares of Palantir Technologies by 32.0% in the first quarter. Axxcess Wealth Management LLC now owns 17,027 shares of the company’s stock worth $392,000 after buying an additional 4,123 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Palantir Technologies by 87.8% in the first quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company’s stock worth $316,000 after buying an additional 6,426 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Palantir Technologies by 4.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,644,936 shares of the company’s stock worth $37,850,000 after buying an additional 69,436 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wedbush increased 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. Finally, The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. This trade represents a 31.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 4.9 %

Shares of PLTR stock opened at $64.35 on Friday. The company has a 50 day simple moving average of $45.94 and a two-hundred day simple moving average of $33.39. The stock has a market cap of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $66.00.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

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.