Investment Management Corp of Ontario Lowers Stake in Palantir Technologies Inc. $PLTR

Investment Management Corp of Ontario trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 21.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,292 shares of the company’s stock after selling 38,630 shares during the quarter. Investment Management Corp of Ontario’s holdings in Palantir Technologies were worth $19,670,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Truist Financial Corp increased its stake in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after buying an additional 21,809 shares during the last quarter. State of Michigan Retirement System raised its holdings in Palantir Technologies by 1.3% in the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after acquiring an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC bought a new position in Palantir Technologies during the 2nd quarter valued at $204,000. Finally, New Century Financial Group LLC acquired a new position in Palantir Technologies during the 2nd quarter worth $228,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the transaction, the insider owned 251,409 shares in the company, valued at $40,818,765.24. This trade represents a 12.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 149,872 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at $105,410,476.14. This trade represents a 18.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,029,844 shares of company stock worth $168,161,111 over the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $181.49 on Tuesday. The firm’s 50 day moving average price is $179.05 and its two-hundred day moving average price is $162.16. The firm has a market cap of $432.57 billion, a PE ratio of 432.13, a P/E/G ratio of 7.05 and a beta of 1.50. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.10 earnings per share. Palantir Technologies’s revenue for the quarter was up 62.8% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PLTR shares. Citigroup increased their price target on shares of Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Bank of America upped their price target on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Northland Securities lifted their price objective on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Profile

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.