Sebold Capital Management Inc. Lowers Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Sebold Capital Management Inc. cut its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3.0% during the 3rd quarter, Holdings Channel reports. The firm owned 8,706 shares of the company’s stock after selling 270 shares during the quarter. Sebold Capital Management Inc.’s holdings in Palantir Technologies were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLTR. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $25,000. West Paces Advisors Inc. raised its holdings in shares of 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 purchasing an additional 620 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies in the second quarter valued at approximately $30,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 0.6 %

NYSE PLTR opened at $42.95 on Wednesday. The stock’s 50-day simple moving average is $35.87 and its two-hundred day simple moving average is $28.28. Palantir Technologies Inc. has a twelve month low of $14.48 and a twelve month high of $44.39. The company has a market capitalization of $96.18 billion, a price-to-earnings ratio of 252.66 and a beta of 2.72.

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

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research reports. Bank of America increased their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Northland Securities started coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price for the company. DA Davidson boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.86.

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.