UBS Asset Management Americas Inc. Cuts Position in Palantir Technologies Inc. (NYSE:PLTR)

UBS Asset Management Americas Inc. trimmed its holdings in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,936,972 shares of the company’s stock after selling 144,103 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.29% of Palantir Technologies worth $48,268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Exos TFP Holdings LLC acquired a new position in Palantir Technologies in the third quarter valued at approximately $35,000. Truvestments Capital LLC acquired a new position in Palantir Technologies in the second quarter valued at approximately $41,000. Quadrant Capital Group LLC boosted its holdings in Palantir Technologies by 39.3% in the second quarter. Quadrant Capital Group LLC now owns 4,694 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in Palantir Technologies in the third quarter valued at approximately $45,000. Finally, Guardian Wealth Advisors LLC acquired a new position in Palantir Technologies in the third quarter valued at approximately $47,000. 31.90% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $7.35 on Monday. The stock has a fifty day moving average price of $7.72 and a two-hundred day moving average price of $7.64. The stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of -38.68, a PEG ratio of 2.78 and a beta of 2.87. Palantir Technologies Inc. has a 1 year low of $5.84 and a 1 year high of $14.86.

Palantir Technologies (NYSE:PLTR – Get Rating) last released its quarterly earnings data on Monday, February 13th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $508.62 million during the quarter, compared to analysts’ expectations of $504.84 million. Palantir Technologies had a negative return on equity of 11.90% and a negative net margin of 19.61%. Palantir Technologies’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, analysts predict that Palantir Technologies Inc. will post 0.05 EPS for the current year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $6.38, for a total value of $44,660.00. Following the completion of the transaction, the director now owns 213,830 shares in the company, valued at $1,364,235.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lauren Elaina Friedman Stat sold 7,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $6.38, for a total transaction of $44,660.00. Following the completion of the sale, the director now owns 213,830 shares in the company, valued at approximately $1,364,235.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 153,049 shares of Palantir Technologies stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $10.07, for a total value of $1,541,203.43. Following the sale, the insider now owns 281,526 shares of the company’s stock, valued at approximately $2,834,966.82. The disclosure for this sale can be found here. Insiders sold a total of 184,562 shares of company stock worth $1,787,101 over the last 90 days. 13.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLTR. Jefferies Financial Group downgraded Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $9.00 to $7.50 in a report on Thursday, January 5th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Thursday, February 23rd. Citigroup reissued a “sell” rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on Palantir Technologies from $7.00 to $6.00 and set a “sell” rating for the company in a report on Monday, January 23rd. Finally, Wolfe Research downgraded Palantir Technologies from a “peer perform” rating to an “underperform” rating and set a $4.50 price target for the company. in a report on Wednesday, December 21st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.64.

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.