Palantir Technologies Inc. (NYSE:PLTR) Stock Position Cut by Kraematon Investment Advisors Inc.

Kraematon Investment Advisors Inc. trimmed its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,075 shares of the company’s stock after selling 2,000 shares during the quarter. Kraematon Investment Advisors Inc.’s holdings in Palantir Technologies were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Pursue Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter valued at about $1,741,000. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares in the last quarter. Accel Wealth Management acquired a new stake in Palantir Technologies during the first quarter valued at approximately $360,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Palantir Technologies by 185.6% in the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after buying an additional 49,839 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at $13,625,524.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,396 shares of company stock worth $4,389,707. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

PLTR has been the topic of several recent research reports. HSBC raised their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Argus initiated coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Finally, Raymond James increased their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.14.

Palantir Technologies Stock Performance

Shares of PLTR traded up $0.73 during mid-day trading on Friday, hitting $30.01. The company’s stock had a trading volume of 88,131,106 shares, compared to its average volume of 48,413,612. The stock’s 50-day moving average is $25.97 and its two-hundred day moving average is $23.69. The firm has a market capitalization of $66.83 billion, a PE ratio of 250.10, a price-to-earnings-growth ratio of 6.14 and a beta of 2.71. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $30.36.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Palantir Technologies had a net margin of 16.32% and a return on equity of 9.24%. The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period in the prior year, the firm earned $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. Analysts expect that Palantir Technologies Inc. will post 0.16 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.