Meridian Investment Counsel Inc. Trims Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Meridian Investment Counsel Inc. decreased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,720 shares of the company’s stock after selling 1,100 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Palantir Technologies were worth $2,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PLTR. Empowered Funds LLC boosted its holdings in Palantir Technologies by 32.0% in the 1st quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after purchasing an additional 6,002 shares during the period. Sei Investments Co. grew its holdings in shares of Palantir Technologies by 20.1% during the 1st quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after purchasing an additional 50,159 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Palantir Technologies by 6.7% during the 1st quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock valued at $9,300,000 after purchasing an additional 25,258 shares during the last quarter. ProShare Advisors LLC purchased a new position in Palantir Technologies in the 1st quarter worth $262,000. Finally, Orion Portfolio Solutions LLC lifted its stake in Palantir Technologies by 7.2% in the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company’s stock worth $1,351,000 after purchasing an additional 3,922 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLTR shares. Mizuho raised their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Wedbush raised their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Securities increased their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Stock Up 11.2 %

NYSE:PLTR opened at $65.81 on Friday. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The stock has a market cap of $147.38 billion, a P/E ratio of 329.07 and a beta of 2.70. The firm’s fifty day simple moving average is $43.19 and its 200 day simple moving average is $31.94.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 11,373 shares of Palantir Technologies stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the completion of the transaction, the insider now directly owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,562,840 shares of company stock valued at $1,435,787,316 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Company Profile

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.