Oak Harvest Investment Services Decreases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Oak Harvest Investment Services lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 29.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,655 shares of the company’s stock after selling 19,406 shares during the quarter. Oak Harvest Investment Services’ holdings in Palantir Technologies were worth $1,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Summit Securities Group LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $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 purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLTR. The Goldman Sachs Group upped their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Citigroup raised their target price 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. Northland Securities started coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.86.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,204,508 shares of company stock worth $802,654,666. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $43.72 on Thursday. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $45.14. The firm has a market capitalization of $97.91 billion, a PE ratio of 257.18 and a beta of 2.72. The business’s 50 day moving average price is $37.58 and its 200-day moving average price is $29.27.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business 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 company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

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.