BayBridge Capital Group LLC Trims Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

BayBridge Capital Group LLC lessened its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,956 shares of the company’s stock after selling 2,452 shares during the quarter. BayBridge Capital Group LLC’s holdings in Palantir Technologies were worth $780,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the second quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC boosted its stake in Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Northland Securities began 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. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. DA Davidson increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Mizuho upped their price objective on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Price Performance

NYSE:PLTR opened at $44.85 on Friday. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.07. The business’s 50-day moving average is $36.86 and its two-hundred day moving average is $28.77. The firm has a market capitalization of $99.88 billion, a PE ratio of 373.75 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. Equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,747,176 shares of company stock valued at $646,951,347. Corporate insiders own 12.93% of the company’s stock.

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.