Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by TCW Group Inc.

TCW Group Inc. lessened its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,255 shares of the company’s stock after selling 666 shares during the quarter. TCW Group Inc.’s holdings in Palantir Technologies were worth $1,014,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLTR. Wedbush upped their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday. They issued a “neutral” rating and a $70.00 target price on the stock. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Finally, DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.93.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,252,313 shares of company stock worth $1,967,089,241 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.0 %

Palantir Technologies stock opened at $73.20 on Friday. The firm has a market cap of $166.75 billion, a PE ratio of 453.19, a P/E/G ratio of 9.70 and a beta of 2.87. The stock’s 50 day simple moving average is $55.02 and its two-hundred day simple moving average is $38.01. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $80.91.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Palantir Technologies 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.