Connors Investor Services Inc. Sells 25,000 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Connors Investor Services Inc. reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 968,828 shares of the company’s stock after selling 25,000 shares during the quarter. Palantir Technologies accounts for approximately 2.6% of Connors Investor Services Inc.’s portfolio, making the stock its 7th largest holding. Connors Investor Services Inc.’s holdings in Palantir Technologies were worth $24,540,000 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 PLTR. Evolution Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies by 0.5% in the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after purchasing an additional 360 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after buying an additional 379 shares during the period. Gradient Investments LLC lifted its stake in shares of Palantir Technologies by 21.4% during the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after buying an additional 406 shares during the period. Apella Capital LLC raised its stake in Palantir Technologies by 3.7% during the second quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock worth $323,000 after purchasing an additional 416 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock worth $916,000 after purchasing an additional 416 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.0 %

Shares of NYSE:PLTR opened at $36.31 on Tuesday. The company has a market cap of $81.31 billion, a PE ratio of 302.61, a P/E/G ratio of 6.16 and a beta of 2.72. The company’s 50-day moving average price is $29.86 and its 200 day moving average price is $25.58. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $36.92.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Citigroup increased their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Raymond James increased their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.79.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the transaction, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 155,539 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $11,604,542.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 877,238 shares of company stock valued at $27,698,572. Company insiders own 12.93% of the company’s stock.

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.