Morse Asset Management Inc Cuts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Morse Asset Management Inc lessened its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 36.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,957 shares of the company’s stock after selling 28,398 shares during the period. Morse Asset Management Inc’s holdings in Palantir Technologies were worth $1,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the second quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in Palantir Technologies in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PLTR shares. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Mizuho upped their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Six 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. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Trading Up 6.9 %

Shares of PLTR opened at $70.96 on Wednesday. The stock’s 50 day moving average is $50.11 and its two-hundred day moving average is $35.72. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $71.37. The firm has a market capitalization of $161.65 billion, a PE ratio of 354.82, a P/E/G ratio of 8.98 and a beta of 2.87.

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

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares in the company, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,423,181 shares of company stock valued at $1,972,588,658. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Profile

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.