Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Posted by Defense World Staff on Sep 11th, 2023

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,271,000 shares of the company’s stock after selling 20,469 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of Palantir Technologies worth $10,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mandatum Life Insurance Co Ltd boosted its position in shares of Palantir Technologies by 2.3% during the 1st quarter. Mandatum Life Insurance Co Ltd now owns 57,591 shares of the company’s stock worth $487,000 after acquiring an additional 1,292 shares in the last quarter. Redwood Wealth Management Group LLC raised its stake in Palantir Technologies by 4.5% during the 1st quarter. Redwood Wealth Management Group LLC now owns 30,470 shares of the company’s stock valued at $257,000 after acquiring an additional 1,325 shares during the last quarter. Sepio Capital LP raised its stake in Palantir Technologies by 9.0% during the 1st quarter. Sepio Capital LP now owns 16,181 shares of the company’s stock valued at $137,000 after acquiring an additional 1,333 shares during the last quarter. Prudential Financial Inc. raised its stake in Palantir Technologies by 2.7% during the 1st quarter. Prudential Financial Inc. now owns 51,712 shares of the company’s stock valued at $479,000 after acquiring an additional 1,348 shares during the last quarter. Finally, Formidable Asset Management LLC raised its stake in Palantir Technologies by 10.3% during the 1st quarter. Formidable Asset Management LLC now owns 14,855 shares of the company’s stock valued at $125,000 after acquiring an additional 1,389 shares during the last quarter. 34.21% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 0.5 %

PLTR stock opened at $15.13 on Monday. Palantir Technologies Inc. has a 52-week low of $5.84 and a 52-week high of $20.24. The stock’s fifty day simple moving average is $16.15 and its 200-day simple moving average is $12.45. The stock has a market capitalization of $32.56 billion, a price-to-earnings ratio of -504.33, a price-to-earnings-growth ratio of 3.82 and a beta of 2.80.

Palantir Technologies (NYSE:PLTR – Get Free Report) last issued its earnings results on Monday, August 7th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $533.88 million. Palantir Technologies had a negative return on equity of 4.37% and a negative net margin of 2.35%. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 5,534 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $14.44, for a total value of $79,910.96. Following the transaction, the insider now directly owns 812,006 shares of the company’s stock, valued at approximately $11,725,366.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $16.38, for a total value of $58,886.10. Following the transaction, the director now directly owns 68,669 shares of the company’s stock, valued at $1,124,798.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 5,534 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $14.44, for a total value of $79,910.96. Following the completion of the transaction, the insider now directly owns 812,006 shares in the company, valued at $11,725,366.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,613,619 shares of company stock valued at $49,216,461. 13.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $7.00 to $9.00 in a research note on Tuesday, August 8th. Bank of America increased their target price on Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, June 12th. Raymond James increased their target price on Palantir Technologies from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Jefferies Financial Group increased their target price on Palantir Technologies from $10.00 to $14.00 in a research note on Monday, June 5th. Finally, Citigroup raised their price objective on Palantir Technologies from $6.00 to $10.00 and gave the company a “sell” rating in a research note on Monday, August 7th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.04.

View Our Latest Stock Analysis on PLTR

About Palantir Technologies

(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.