First Business Financial Services Inc. Sells 820 Shares of Palantir Technologies Inc. (NYSE:PLTR)

First Business Financial Services Inc. lessened its position in Palantir Technologies Inc. (NYSE:PLTR) by 7.6% in the third quarter, HoldingsChannel reports. The firm owned 9,991 shares of the company’s stock after selling 820 shares during the quarter. First Business Financial Services Inc.’s holdings in Palantir Technologies were worth $372,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLTR. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the second quarter worth about $30,000. Finally, Beacon Capital Management LLC raised its stake in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of the sale, the director now owns 121,390 shares in the company, valued at $7,047,903.40. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,239,238 shares of company stock valued at $1,036,731,557. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $59.19 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $63.39. The firm has a market capitalization of $132.55 billion, a price-to-earnings ratio of 295.96 and a beta of 2.70. The stock has a 50 day moving average price of $42.48 and a 200 day moving average price of $31.65.

Palantir Technologies (NYSE:PLTR) last posted 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. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Citigroup upped their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Bank of America increased their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt lowered their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.71.

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.