Optivise Advisory Services LLC Decreases Stake in Palantir Technologies Inc. $PLTR

Optivise Advisory Services LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,492 shares of the company’s stock after selling 810 shares during the quarter. Optivise Advisory Services LLC’s holdings in Palantir Technologies were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Northern Trust Corp boosted its stake in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after buying an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at about $2,543,888,000. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after buying an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after buying an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock worth $1,149,055,000 after purchasing an additional 571,544 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several recent analyst reports. Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. UBS Group restated a “neutral” rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and boosted their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Bank of America boosted their target price on Palantir Technologies from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Mizuho set a $165.00 price target on Palantir Technologies in a research report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $142.00.

Palantir Technologies Stock Up 3.3%

PLTR opened at $207.18 on Tuesday. The firm has a market cap of $491.50 billion, a price-to-earnings ratio of 690.62, a price-to-earnings-growth ratio of 10.87 and a beta of 2.63. Palantir Technologies Inc. has a 52 week low of $41.03 and a 52 week high of $207.52. The business’s 50 day moving average is $175.75 and its two-hundred day moving average is $151.99.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm’s revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,527,750 shares of company stock valued at $234,463,896. 12.93% of the stock is 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.