Canal Capital Management LLC Has $292,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Canal Capital Management LLC lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,859 shares of the company’s stock after selling 439 shares during the period. Canal Capital Management LLC’s holdings in Palantir Technologies were worth $292,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ballentine Partners LLC raised its holdings in Palantir Technologies by 38.5% during the 3rd quarter. Ballentine Partners LLC now owns 17,095 shares of the company’s stock worth $636,000 after purchasing an additional 4,756 shares during the last quarter. Heritage Oak Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $296,000. Silver Oak Securities Incorporated raised its stake in shares of Palantir Technologies by 73.1% during the third quarter. Silver Oak Securities Incorporated now owns 17,389 shares of the company’s stock worth $641,000 after buying an additional 7,343 shares during the last quarter. Global Trust Asset Management LLC lifted its holdings in Palantir Technologies by 18.7% in the third quarter. Global Trust Asset Management LLC now owns 42,846 shares of the company’s stock valued at $1,594,000 after buying an additional 6,743 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Palantir Technologies by 80.2% in the third quarter. Assenagon Asset Management S.A. now owns 37,012 shares of the company’s stock valued at $1,377,000 after acquiring an additional 16,469 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. Bank of America upped their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Jefferies Financial Group boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Stock Up 0.7 %

Shares of NYSE:PLTR opened at $43.88 on Friday. The firm has a market cap of $98.27 billion, a price-to-earnings ratio of 256.22 and a beta of 2.72. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $44.39. The company’s fifty day simple moving average is $36.60 and its 200 day simple moving average is $28.62.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results 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 firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. Research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is owned by insiders.

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.