OneAscent Financial Services LLC Reduces Stake in Palantir Technologies Inc. (NYSE:PLTR)

OneAscent Financial Services LLC reduced its position in Palantir Technologies Inc. (NYSE:PLTR) by 36.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,267 shares of the company’s stock after selling 5,812 shares during the period. OneAscent Financial Services LLC’s holdings in Palantir Technologies were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter worth $25,000. Creekmur Asset Management LLC raised its holdings in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE raised its holdings in Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after purchasing an additional 380 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,551,467 shares of company stock worth $1,435,420,536. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on PLTR shares. Bank of America raised their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Mizuho raised their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Trading Down 6.9 %

Shares of PLTR stock opened at $61.25 on Tuesday. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The stock’s 50-day moving average price is $43.72 and its 200-day moving average price is $32.36. The stock has a market capitalization of $139.53 billion, a price-to-earnings ratio of 306.27 and a beta of 2.70.

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