Natixis Cuts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Natixis lessened its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 4.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,821,020 shares of the company’s stock after selling 86,951 shares during the quarter. Natixis’ holdings in Palantir Technologies were worth $48,002,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Northern Oak Wealth Management Inc. purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $26,000. Strategic Blueprint LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $27,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $32,000. Tsfg LLC boosted its stake in shares of Palantir Technologies by 66.7% during the second quarter. Tsfg LLC now owns 1,250 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Finally, Huntington National Bank bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $34,000. 22.13% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Stephen Andrew Cohen sold 60,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, October 5th. The stock was sold at an average price of $23.32, for a total value of $1,399,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 638,629 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $22.48, for a total value of $14,356,379.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,976,769 shares of company stock worth $143,305,887. Corporate insiders own 17.00% of the company’s stock.

Shares of PLTR opened at $24.22 on Thursday. The business’s 50 day moving average is $25.21 and its 200 day moving average is $23.74. The company has a market capitalization of $47.30 billion and a PE ratio of -20.80. Palantir Technologies Inc. has a 12-month low of $9.18 and a 12-month high of $45.00.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Thursday, August 12th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $375.64 million for the quarter, compared to the consensus estimate of $360.60 million. Palantir Technologies had a positive return on equity of 20.55% and a negative net margin of 95.14%.

A number of brokerages recently commented on PLTR. Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 12th. Morgan Stanley raised their price target on Palantir Technologies from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Friday, August 13th. Royal Bank of Canada raised their price target on Palantir Technologies from $20.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, August 13th. Zacks Investment Research cut Palantir Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 19th. Finally, Wolfe Research increased their price objective on Palantir Technologies from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, August 13th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $23.11.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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