Palantir Technologies Inc. $PLTR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,488,532 shares of the company’s stock after selling 543,000 shares during the quarter. Bank of New York Mellon Corp’s holdings in Palantir Technologies were worth $1,702,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC acquired a new stake in Palantir Technologies in the 2nd quarter worth about $2,543,888,000. Nuveen LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD boosted its position in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Finally, Amundi increased its position in Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company’s stock worth $887,857,000 after purchasing an additional 3,815,386 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $200.47 on Monday. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $204.18. The firm has a market cap of $475.58 billion, a PE ratio of 668.26, a P/E/G ratio of 10.87 and a beta of 2.63. The firm’s 50 day moving average price is $174.75 and its two-hundred day moving average price is $151.19.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the company posted $0.09 EPS. Palantir Technologies’s revenue was up 48.0% on a year-over-year basis. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on PLTR. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, October 28th. Bank of America increased their target price on Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Citigroup upped their price objective on Palantir Technologies from $177.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating and increased their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $142.00.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $89,611.04. The trade was a 99.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,557,750 shares of company stock valued at $239,713,896. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.