Probity Advisors Inc. Cuts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Probity Advisors Inc. decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,301 shares of the company’s stock after selling 535 shares during the quarter. Probity Advisors Inc.’s holdings in Palantir Technologies were worth $1,038,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. FMR LLC increased its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Invesco Ltd. increased its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Bank of New York Mellon Corp increased its holdings in Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company’s stock worth $1,099,861,000 after purchasing an additional 187,860 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Palantir Technologies by 3.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,532,241 shares of the company’s stock worth $796,553,000 after purchasing an additional 344,127 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Wedbush set a $160.00 price objective on Palantir Technologies in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.45.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares of the company’s stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the sale, the insider directly owned 363,755 shares of the company’s stock, valued at $54,563,250. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 2.6%

Palantir Technologies stock opened at $154.27 on Monday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89. The stock has a 50 day moving average of $140.37 and a two-hundred day moving average of $112.57. The stock has a market capitalization of $364.06 billion, a price-to-earnings ratio of 670.74, a PEG ratio of 13.15 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.