Freedom Investment Management Inc. Trims Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Freedom Investment Management Inc. lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 26.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,297 shares of the company’s stock after selling 7,986 shares during the period. Freedom Investment Management Inc.’s holdings in Palantir Technologies were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter valued at $25,000. Creekmur Asset Management LLC raised its holdings in shares of Palantir Technologies by 46.0% during the third 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 lifted its position in shares of 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 buying an additional 380 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 0.5 %

PLTR stock opened at $66.05 on Friday. The firm’s 50-day moving average is $48.27 and its two-hundred day moving average is $34.55. The company has a market capitalization of $150.46 billion, a price-to-earnings ratio of 412.81, a price-to-earnings-growth ratio of 8.93 and a beta of 2.70. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $67.88.

Palantir Technologies (NYSE:PLTR) last announced its 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 firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Bank of America upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $35.64.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.74, for a total transaction of $674,800.00. Following the sale, the insider now owns 576,023 shares of the company’s stock, valued at $19,435,016.02. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,163,181 shares of company stock worth $1,603,288,758 over the last 90 days. 12.93% of the stock is currently owned by company 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.