Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Foundations Investment Advisors LLC

Posted by Defense World Staff on Jul 12th, 2023

Foundations Investment Advisors LLC decreased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,397 shares of the company’s stock after selling 3,776 shares during the period. Foundations Investment Advisors LLC’s holdings in Palantir Technologies were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Leeward Financial Partners LLC acquired a new position in Palantir Technologies during the 1st quarter worth approximately $85,000. Machina Capital S.A.S. acquired a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $216,000. Asset Management One Co. Ltd. grew its holdings in shares of Palantir Technologies by 9.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 704,077 shares of the company’s stock worth $5,949,000 after acquiring an additional 60,558 shares during the period. QCM Cayman Ltd. grew its holdings in shares of Palantir Technologies by 9.4% in the 1st quarter. QCM Cayman Ltd. now owns 18,837 shares of the company’s stock worth $159,000 after acquiring an additional 1,623 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Palantir Technologies by 8.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 196,302 shares of the company’s stock worth $1,599,000 after acquiring an additional 15,491 shares during the period. Institutional investors and hedge funds own 31.57% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 1,031,533 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $15.00, for a total transaction of $15,472,995.00. Following the completion of the sale, the insider now directly owns 1,313,446 shares in the company, valued at approximately $19,701,690. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Alexander D. Moore sold 37,076 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $15.38, for a total value of $570,228.88. Following the completion of the sale, the director now directly owns 1,808,819 shares in the company, valued at approximately $27,819,636.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 1,031,533 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $15.00, for a total value of $15,472,995.00. Following the completion of the sale, the insider now owns 1,313,446 shares of the company’s stock, valued at $19,701,690. The disclosure for this sale can be found here. Insiders sold a total of 1,959,599 shares of company stock worth $27,683,472 in the last ninety days. Insiders own 13.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PLTR. Bank of America upped their price target on Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, June 12th. Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $6.00 to $7.00 in a report on Tuesday, May 9th. Jefferies Financial Group upped their price target on Palantir Technologies from $10.00 to $14.00 in a report on Monday, June 5th. Raymond James lowered Palantir Technologies from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $15.00 to $18.00 in a research note on Tuesday, June 20th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Monday, March 27th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.54.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $16.49 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $17.16. The business’s fifty day moving average is $13.44 and its two-hundred day moving average is $9.80.

Palantir Technologies (NYSE:PLTR – Get Free Report) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.01 earnings per share for the quarter. Palantir Technologies had a negative return on equity of 12.48% and a negative net margin of 12.88%. The company had revenue of $525.19 million for the quarter, compared to analyst estimates of $504.84 million. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.05 EPS for the current year.

Palantir Technologies Profile

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.