Palantir Technologies Inc. $PLTR Position Trimmed by Breakwater Investment Management

Breakwater Investment Management reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 71.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,092 shares of the company’s stock after selling 5,154 shares during the quarter. Breakwater Investment Management’s holdings in Palantir Technologies were worth $382,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC acquired a new position in shares of Palantir Technologies in the second quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the first quarter valued at about $27,000. 1248 Management LLC purchased a new position in Palantir Technologies in the first quarter valued at about $27,000. Briaud Financial Planning Inc acquired a new position in Palantir Technologies in the 2nd quarter worth about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $183.25 on Tuesday. The stock’s 50-day moving average is $179.39 and its 200-day moving average is $164.33. The company has a market cap of $436.76 billion, a P/E ratio of 436.32, a P/E/G ratio of 7.12 and a beta of 1.49. Palantir Technologies Inc. has a 52-week low of $63.40 and a 52-week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Daiwa Capital Markets boosted their price target on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. DA Davidson lifted their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Morgan Stanley increased their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Bank of America lifted their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $172.28.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the sale, the insider owned 592 shares of the company’s stock, valued at approximately $92,500. This trade represents a 98.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Buckley sold 1,252 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $157.50, for a total transaction of $197,190.00. Following the completion of the transaction, the insider directly owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. The trade was a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,676,161 over the last quarter. Company insiders own 9.23% of the company’s stock.

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.