abrdn plc Sells 4,212 Shares of Palantir Technologies Inc. (NYSE:PLTR)

abrdn plc lowered its stake in shares of Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,090 shares of the company’s stock after selling 4,212 shares during the quarter. abrdn plc’s holdings in Palantir Technologies were worth $1,238,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Platform Technology Partners grew its holdings in Palantir Technologies by 3.1% during the first quarter. Platform Technology Partners now owns 32,854 shares of the company’s stock worth $451,000 after buying an additional 1,000 shares in the last quarter. Tradition Wealth Management LLC grew its stake in Palantir Technologies by 26.1% in the 2nd quarter. Tradition Wealth Management LLC now owns 5,002 shares of the company’s stock valued at $45,000 after purchasing an additional 1,034 shares during the period. TCI Wealth Advisors Inc. grew its stake in Palantir Technologies by 58.5% in the 1st quarter. TCI Wealth Advisors Inc. now owns 2,820 shares of the company’s stock valued at $39,000 after purchasing an additional 1,041 shares during the period. Victory Capital Management Inc. grew its stake in Palantir Technologies by 0.9% in the 1st quarter. Victory Capital Management Inc. now owns 123,750 shares of the company’s stock valued at $1,287,000 after purchasing an additional 1,060 shares during the period. Finally, AdvisorNet Financial Inc grew its stake in Palantir Technologies by 19.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 7,045 shares of the company’s stock valued at $64,000 after purchasing an additional 1,153 shares during the period. Institutional investors own 30.80% of the company’s stock.

Insider Buying and Selling

In related news, insider David A. Glazer sold 26,171 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $8.23, for a total transaction of $215,387.33. Following the sale, the insider now owns 1,815,808 shares of the company’s stock, valued at approximately $14,944,099.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider David A. Glazer sold 26,171 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $8.23, for a total transaction of $215,387.33. Following the sale, the insider now owns 1,815,808 shares of the company’s stock, valued at approximately $14,944,099.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 37,387 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $8.14, for a total value of $304,330.18. Following the completion of the sale, the insider now directly owns 1,874,097 shares in the company, valued at approximately $15,255,149.58. The disclosure for this sale can be found here. 13.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLTR. Raymond James reduced their price objective on Palantir Technologies from $20.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Tuesday. Citigroup reduced their price objective on Palantir Technologies from $7.00 to $6.00 and set a “sell” rating for the company in a research note on Tuesday, August 9th. Royal Bank of Canada reduced their price objective on Palantir Technologies from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday. Morgan Stanley reduced their price objective on Palantir Technologies from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, October 20th. Finally, Credit Suisse Group cut their price target on Palantir Technologies to $11.00 in a research note on Monday, August 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $12.17.

Palantir Technologies Price Performance

Shares of PLTR opened at $7.21 on Wednesday. The stock’s 50-day simple moving average is $7.93 and its 200 day simple moving average is $8.75. Palantir Technologies Inc. has a 52-week low of $6.44 and a 52-week high of $25.98.

Palantir Technologies (NYSE:PLTRGet Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The company had revenue of $473.00 million for the quarter, compared to analysts’ expectations of $471.72 million. Palantir Technologies had a positive return on equity of 0.06% and a negative net margin of 30.90%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the company posted $0.04 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post -0.17 earnings per share for the current year.

Palantir Technologies Profile

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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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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