Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC reduced its position in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 1.0% in the second quarter, according to the company in its most recent SEC disclosure. The firm owned 70,608 shares of the company’s stock after selling 721 shares during the period. ClariVest Asset Management LLC’s holdings in Palantir Technologies were worth $1,789,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. 1832 Asset Management LP raised its stake in shares of Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management LP now owns 3,625,300 shares of the company’s stock worth $83,418,000 after buying an additional 3,623,840 shares during the last quarter. Norges Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $46,542,000. Coatue Management LLC raised its position in shares of Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after acquiring an additional 2,553 shares. 432 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the last quarter. 45.65% of the shares are held by hedge funds and other institutional investors.

Palantir Technologies stock rose 0.3%

NYSE:PLTR opened at $34.85 on Thursday. Palantir Technologies Inc. it has a 52-week low of $13.68 and a 52-week high of $35.20. The stock’s fifty day moving average is $29.34, and the two hundred day moving average is $25.34. The company has a market cap of $77.61 billion, a P/E ratio of 290.42, a P/E/G ratio of 5.35 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR – Get Your Free Report ) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s quarterly revenue was up 27.2% year over year. In the same quarter last year, the firm posted earnings of $0.01 per share. Sell-side analysts anticipate that Palantir Technologies Inc. will record a profit of 0.19 per share for the current fiscal year.

Insider Trading at Palantir Technologies

In related news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now owns 29,817 shares in the company, valued at approximately $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares in the company, valued at approximately $853,918. The disclosure for this sale can be found here. Over the last three months, insiders have sold 724,699 shares of company stock worth $22,329,596. 12.93% of shares are currently owned by insiders.

Changes in Analyst Ratings

PLTR has been the subject of a number of analyst research reports. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Raymond James upped their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $26.79.

Check out our latest report on Palantir Technologies

About Palantir Technologies

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counter-terrorism investigations and operations in the United States, United Kingdom and internationally. The company provides Palantir Gotham, a software platform that enables users to identify patterns hidden deep in data sets ranging from signals intelligence sources to reports from confidential informants, as well as facilitates handoff between analysts and operational users, helping operators plan and execute worldwide responses to threats that have been identified within the platform.

See Also

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