Bosun Asset Management LLC Sells 9,831 Shares of Palantir Technologies Inc. $PLTR

Bosun Asset Management LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 75.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,181 shares of the company’s stock after selling 9,831 shares during the quarter. Bosun Asset Management LLC’s holdings in Palantir Technologies were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accuvest Global Advisors grew its stake in Palantir Technologies by 0.7% in the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock valued at $1,232,000 after acquiring an additional 63 shares during the period. Ignite Planners LLC lifted its holdings in shares of Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after purchasing an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. grew its position in Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after purchasing an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after purchasing an additional 73 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its holdings in Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after buying an additional 73 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLTR shares. Daiwa Capital Markets lifted their price objective on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Mizuho lifted their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Bank of America boosted their price objective on Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Finally, Piper Sandler increased their price target on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $172.28.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $181.76 on Monday. The firm has a market cap of $433.21 billion, a PE ratio of 432.77, a P/E/G ratio of 7.05 and a beta of 1.50. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The stock has a fifty day moving average price of $178.99 and a 200-day moving average price of $161.74.

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

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the transaction, the insider owned 251,409 shares in the company, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 359,325 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $58,925,706.75. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at $1,054,825,989.42. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,029,844 shares of company stock valued at $168,161,111 in the last quarter. 12.93% of the stock is currently owned by company insiders.

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.