American Century Companies Inc. Reduces Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

American Century Companies Inc. lowered its stake in Palantir Technologies Inc. (NYSE:PLTR) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,275,973 shares of the company’s stock after selling 1,628,724 shares during the period. American Century Companies Inc. owned 0.24% of Palantir Technologies worth $133,640,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at approximately $2,098,000. LPL Financial LLC lifted its stake in shares of Palantir Technologies by 16.6% in the 2nd quarter. LPL Financial LLC now owns 2,524,730 shares of the company’s stock valued at $63,951,000 after purchasing an additional 360,008 shares during the period. VitalStone Financial LLC boosted its position in shares of Palantir Technologies by 777.0% during the second quarter. VitalStone Financial LLC now owns 2,131 shares of the company’s stock valued at $54,000 after purchasing an additional 1,888 shares in the last quarter. Vantage Financial Partners LLC grew its stake in Palantir Technologies by 4.2% in the second quarter. Vantage Financial Partners LLC now owns 59,129 shares of the company’s stock worth $1,498,000 after purchasing an additional 2,405 shares during the period. Finally, Ellerson Group Inc. ADV raised its holdings in Palantir Technologies by 1.2% in the second quarter. Ellerson Group Inc. ADV now owns 171,006 shares of the company’s stock worth $4,332,000 after purchasing an additional 1,976 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the transaction, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 880,238 shares of company stock worth $27,776,572. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $35.59 on Friday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $36.01. The company has a market cap of $79.26 billion, a P/E ratio of 296.58, a PEG ratio of 6.15 and a beta of 2.72. The stock’s fifty day moving average price is $29.69 and its 200-day moving average price is $25.49.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the company posted $0.01 EPS. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLTR. Argus began coverage on shares of Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.79.

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.