Palantir Technologies Inc. $PLTR Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. cut its Palantir stake by 89.5% in Q3, selling 6,087 shares and leaving it with 717 shares worth about $131,000.
• Several large institutions moved in the opposite direction: Norges Bank and Kingstone bought new multi‑billion dollar positions, while Vanguard and State Street boosted holdings to roughly 205.7 million and 94.5 million shares respectively, with institutional investors owning about 45.65% of PLTR.
• Palantir beat Q3 expectations (EPS $0.21 vs. $0.17; revenue $1.18B, +62.8% YoY) and analysts have lifted targets, but the consensus rating remains a Hold with an average price target of $172.28.

Thurston Springer Miller Herd & Titak Inc. reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 89.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 717 shares of the company's stock after selling 6,087 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Palantir Technologies were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Norges Bank purchased a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new stake in Palantir Technologies during the 2nd quarter valued at $2,543,888,000. Vanguard Group Inc. grew its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock valued at $28,043,432,000 after buying an additional 7,194,216 shares during the last quarter. State Street Corp increased its position in Palantir Technologies by 6.9% during the second quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after buying an additional 6,097,629 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLTR shares. HSBC increased their price objective on Palantir Technologies from $181.00 to $197.00 and gave the company a "hold" rating in a research note on Wednesday, November 5th. DA Davidson upped their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the company a "neutral" rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, November 4th. Mizuho upped their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley raised their target price on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $172.28.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $187.75 on Wednesday. The company has a market cap of $447.49 billion, a P/E ratio of 447.03, a P/E/G ratio of 7.10 and a beta of 1.49. Palantir Technologies Inc. has a 12 month low of $63.40 and a 12 month high of $207.52. The company has a 50-day moving average of $179.50 and a 200-day moving average of $164.76.

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

Insider Buying and Selling

In other news, insider Shyam Sankar sold 149,872 shares of the business's stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the completion of the sale, the insider directly owned 642,786 shares of the company's stock, valued at $105,410,476.14. The trade was a 18.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 15,557 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $2,551,192.43. Following the completion of the transaction, the insider directly owned 415,612 shares in the company, valued at $68,156,211.88. This trade represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,017,844 shares of company stock worth $166,349,351 over the last 90 days. Company insiders own 12.93% 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.

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