M Holdings Securities Inc. Cuts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

M Holdings Securities Inc. decreased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,327 shares of the company’s stock after selling 3,352 shares during the period. M Holdings Securities Inc.’s holdings in Palantir Technologies were worth $831,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. ARK Investment Management LLC increased its position in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Legal & General Group Plc grew its stake in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after acquiring an additional 292,885 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 4.8 %

Shares of Palantir Technologies stock opened at $64.33 on Friday. The business’s fifty day moving average price is $45.94 and its 200 day moving average price is $33.31. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The stock has a market capitalization of $146.55 billion, a P/E ratio of 321.67 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its earnings results 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 the consensus estimate 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 was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at approximately $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. In the last 90 days, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PLTR. DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Wedbush boosted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six equities 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.71.

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.