Jacobs & Co. CA Sells 40,100 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Jacobs & Co. CA lessened its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 49.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,768 shares of the company’s stock after selling 40,100 shares during the quarter. Jacobs & Co. CA’s holdings in Palantir Technologies were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Palantir Technologies by 22.4% during the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after acquiring an additional 28,563,749 shares in the last quarter. BlackRock Inc. raised its position in Palantir Technologies by 2.0% during the first quarter. BlackRock Inc. now owns 98,631,611 shares of the company’s stock worth $833,437,000 after acquiring an additional 1,937,114 shares in the last quarter. Renaissance Technologies LLC raised its position in Palantir Technologies by 29.8% during the fourth quarter. Renaissance Technologies LLC now owns 43,000,160 shares of the company’s stock worth $276,061,000 after acquiring an additional 9,870,113 shares in the last quarter. State Street Corp raised its position in Palantir Technologies by 3.0% during the first quarter. State Street Corp now owns 35,503,622 shares of the company’s stock worth $300,003,000 after acquiring an additional 1,047,522 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Palantir Technologies by 3.3% during the first quarter. Geode Capital Management LLC now owns 23,712,480 shares of the company’s stock worth $200,086,000 after acquiring an additional 747,652 shares in the last quarter. Institutional investors own 34.21% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research reports. HSBC initiated coverage on shares of Palantir Technologies in a report on Friday. They issued a “hold” rating and a $16.00 price objective on the stock. Citigroup upped their price objective on shares of Palantir Technologies from $6.00 to $10.00 and gave the company a “sell” rating in a report on Monday, August 7th. Mizuho upped their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Palantir Technologies in a report on Monday. Finally, Wolfe Research upped their price objective on shares of Palantir Technologies from $6.00 to $7.50 and gave the company an “underperform” rating in a report on Tuesday, August 8th. Six analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $13.25.

Palantir Technologies Stock Up 0.3 %

Shares of Palantir Technologies stock opened at $15.38 on Monday. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of -505.33, a PEG ratio of 3.98 and a beta of 2.80. Palantir Technologies Inc. has a 12-month low of $5.84 and a 12-month high of $20.24. The firm’s 50-day moving average price is $16.17 and its two-hundred day moving average price is $12.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $533.32 million for the quarter, compared to the consensus estimate of $533.88 million. Palantir Technologies had a negative net margin of 2.35% and a negative return on equity of 4.37%. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.07 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 1,967,500 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $20.00, for a total value of $39,350,000.00. Following the completion of the transaction, the insider now owns 1,313,446 shares of the company’s stock, valued at $26,268,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $15.71, for a total value of $56,477.45. Following the completion of the transaction, the director now owns 61,479 shares in the company, valued at approximately $965,835.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 1,967,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $20.00, for a total transaction of $39,350,000.00. Following the completion of the transaction, the insider now owns 1,313,446 shares of the company’s stock, valued at approximately $26,268,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,613,619 shares of company stock valued at $49,214,052. 13.96% of the stock is currently owned by insiders.

Palantir Technologies Company Profile

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.