Manchester Financial Inc. Sells 472 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Manchester Financial Inc. reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 64,664 shares of the company’s stock after selling 472 shares during the quarter. Palantir Technologies comprises approximately 0.5% of Manchester Financial Inc.’s holdings, making the stock its 25th largest holding. Manchester Financial Inc.’s holdings in Palantir Technologies were worth $2,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Heritage Wealth Management Inc. CA purchased a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in Palantir Technologies in the third quarter worth $6,339,000. Seven Grand Managers LLC purchased a new position in Palantir Technologies during the third quarter worth $930,000. Dock Street Asset Management Inc. increased its position in Palantir Technologies by 23.4% during the third quarter. Dock Street Asset Management Inc. now owns 998,953 shares of the company’s stock valued at $37,161,000 after acquiring an additional 189,189 shares during the last quarter. Finally, Perpetual Ltd purchased a new stake in shares of Palantir Technologies in the third quarter valued at $483,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $44.86 on Friday. The stock has a market cap of $99.90 billion, a price-to-earnings ratio of 373.83 and a beta of 2.72. The firm’s 50-day moving average is $36.86 and its two-hundred day moving average is $28.81. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $45.07.

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

Analyst Ratings Changes

A number of equities analysts recently commented on PLTR shares. Monness Crespi & Hardt dropped their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. DA Davidson boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Mizuho boosted their price objective on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.86.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated 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 owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is currently owned by company insiders.

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.