Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC reduced its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 22.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,680 shares of the company’s stock after selling 3,152 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Palantir Technologies were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PLTR. International Assets Investment Management LLC lifted its position 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 acquiring an additional 6,641,253 shares during the period. 1832 Asset Management L.P. increased its stake in Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares in the last quarter. Marshall Wace LLP raised its holdings in Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Principal Financial Group Inc. boosted its position in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Palantir Technologies by 2,722.2% in the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock valued at $44,427,000 after buying an additional 1,655,997 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

PLTR opened at $61.25 on Tuesday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00. The company’s 50 day simple moving average is $43.72 and its 200 day simple moving average is $32.36. The stock has a market capitalization of $139.53 billion, a PE ratio of 306.27 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced 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 company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,551,467 shares of company stock valued at $1,435,420,536. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PLTR. Mizuho boosted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Bank of America increased their price target 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. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.71.

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.