OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 31.6% during the third quarter, Holdings Channel.com reports. The fund owned 18,149 shares of the company’s stock after selling 8,389 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palantir Technologies were worth $675,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Palantir Technologies by 9.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after buying an additional 2,427 shares in the last quarter. Empowered Funds LLC lifted its stake in Palantir Technologies by 32.0% in the 1st quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock worth $569,000 after purchasing an additional 6,002 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Palantir Technologies by 20.1% during the 1st quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after purchasing an additional 50,159 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Palantir Technologies by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock valued at $9,300,000 after purchasing an additional 25,258 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Palantir Technologies by 15.9% in the first quarter. US Bancorp DE now owns 198,930 shares of the company’s stock worth $4,577,000 after purchasing an additional 27,322 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 160,000 shares of Palantir Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $32.00, for a total value of $5,120,000.00. Following the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,922,080. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,399,238 shares of company stock valued at $1,041,851,557 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $60.70 on Thursday. The stock has a 50 day moving average price of $41.30 and a 200 day moving average price of $31.25. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $63.39. The firm has a market capitalization of $135.93 billion, a P/E ratio of 303.52 and a beta of 2.70.

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

Analyst Ratings Changes

Several research firms have weighed in on PLTR. Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Wedbush raised their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Company 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.