Gulf International Bank UK Ltd Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Palantir Technologies by 23.6%, selling 37,432 shares and owning 121,130 shares worth approximately $10.2 million.
• Palantir Technologies reported significant growth in the latest quarter, with revenue up 48% year-over-year and earnings per share (EPS) of $0.16, exceeding analysts' expectations.
• Analysts have mixed views on Palantir's stock, with ratings ranging from sell to buy, and an average target price set at $136.61.

Gulf International Bank UK Ltd lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,130 shares of the company's stock after selling 37,432 shares during the period. Gulf International Bank UK Ltd's holdings in Palantir Technologies were worth $10,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Allegiance Financial Group Advisory Services LLC raised its holdings in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares during the last quarter. Sovran Advisors LLC raised its holdings in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after acquiring an additional 97 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in shares of Palantir Technologies by 0.5% in the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares in the company, valued at $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock worth $196,472,623 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 1.4%

PLTR traded down $2.60 on Wednesday, hitting $184.37. The company's stock had a trading volume of 53,416,270 shares, compared to its average volume of 60,256,280. The company's 50 day simple moving average is $148.82 and its 200-day simple moving average is $117.81. The firm has a market cap of $435.10 billion, a P/E ratio of 614.59, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue for the quarter was up 48.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Loop Capital increased their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Company 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.