Navellier & Associates Inc. Has $965,000 Stake in Palantir Technologies Inc. (NYSE:PLTR)

Navellier & Associates Inc. lowered its stake in Palantir Technologies Inc. (NYSE:PLTR) by 22.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 25,939 shares of the company’s stock after selling 7,606 shares during the quarter. Navellier & Associates Inc.’s holdings in Palantir Technologies were worth $965,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC boosted its holdings in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. The trade was a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at $17,666,625.41. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,547,056 shares of company stock worth $1,500,642,721 over the last ninety days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Northland Securities increased their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Down 1.2 %

NYSE:PLTR opened at $61.36 on Friday. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The stock has a market cap of $139.77 billion, a P/E ratio of 306.79 and a beta of 2.70. The business’s 50-day moving average price is $45.36 and its two-hundred day moving average price is $33.04.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the company posted $0.03 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal 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.