Quintet Private Bank Europe S.A. Sells 7,480 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Quintet Private Bank Europe S.A. lowered its stake in Palantir Technologies Inc. (NYSE:PLTR) by 18.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,830 shares of the company’s stock after selling 7,480 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Palantir Technologies were worth $1,221,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the third quarter worth $25,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Creekmur Asset Management LLC boosted its stake in shares of Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. 45.65% of the stock is owned by institutional investors.

Insider Activity

In related news, 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 $5,535,378. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at $5,535,378. 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 available at this link. Also, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. This represents a 0.00 % decrease in their position. 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

Palantir Technologies stock traded down $0.13 during trading hours on Monday, reaching $41.79. The stock had a trading volume of 14,567,720 shares, compared to its average volume of 55,883,953. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $45.14. The company has a market cap of $93.59 billion, a price-to-earnings ratio of 246.96 and a beta of 2.70. The business’s 50 day moving average price is $37.98 and its 200-day moving average price is $29.61.

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

Analyst Ratings Changes

A number of research analysts have recently commented on PLTR shares. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Citigroup upped their price target 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. DA Davidson lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price on the stock. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.86.

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.