Newbridge Financial Services Group Inc. Sells 12,949 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Newbridge Financial Services Group Inc. lessened its holdings in Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 9.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,314 shares of the company’s stock after selling 12,949 shares during the quarter. Palantir Technologies makes up 0.7% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 17th largest holding. Newbridge Financial Services Group Inc.’s holdings in Palantir Technologies were worth $1,091,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PLTR. Endurance Wealth Management Inc. bought a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. IndexIQ Advisors LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth $27,000. Herold Advisors Inc. purchased a new stake in shares of Palantir Technologies during the 1st quarter worth $35,000. TCI Wealth Advisors Inc. lifted its stake in shares of Palantir Technologies by 58.5% during the 1st quarter. TCI Wealth Advisors Inc. now owns 2,820 shares of the company’s stock worth $39,000 after purchasing an additional 1,041 shares during the last quarter. Finally, UMB Bank N A MO raised its stake in Palantir Technologies by 58.6% in the first quarter. UMB Bank N A MO now owns 3,240 shares of the company’s stock valued at $44,000 after buying an additional 1,197 shares during the last quarter. Institutional investors own 30.80% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $0.12 during mid-day trading on Friday, reaching $7.25. 717,312 shares of the company’s stock were exchanged, compared to its average volume of 30,209,916. Palantir Technologies Inc. has a twelve month low of $6.44 and a twelve month high of $29.19. The company has a fifty day moving average of $8.86 and a 200-day moving average of $9.85.

Palantir Technologies (NYSE:PLTRGet Rating) last released its earnings results on Monday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $473.00 million for the quarter, compared to analyst estimates of $471.72 million. Palantir Technologies had a positive return on equity of 0.06% and a negative net margin of 30.90%. Palantir Technologies’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Palantir Technologies from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 9th. The Goldman Sachs Group started coverage on Palantir Technologies in a report on Thursday, June 23rd. They issued a “neutral” rating and a $10.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Palantir Technologies from a “hold” rating to a “sell” rating and dropped their price objective for the company from $11.00 to $8.00 in a report on Tuesday, August 9th. Bank of America assumed coverage on shares of Palantir Technologies in a research note on Tuesday, June 21st. They issued a “buy” rating and a $13.00 price target for the company. Finally, Credit Suisse Group reduced their price target on shares of Palantir Technologies to $11.00 in a research report on Monday, August 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.83.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 26,171 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $8.23, for a total value of $215,387.33. Following the sale, the insider now directly owns 1,815,808 shares of the company’s stock, valued at approximately $14,944,099.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, insider David A. Glazer sold 37,387 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $8.14, for a total value of $304,330.18. Following the sale, the insider now directly owns 1,874,097 shares of the company’s stock, valued at approximately $15,255,149.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David A. Glazer sold 26,171 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $8.23, for a total transaction of $215,387.33. Following the completion of the transaction, the insider now directly owns 1,815,808 shares in the company, valued at $14,944,099.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 331,187 shares of company stock valued at $3,267,761. Insiders own 13.22% of the company’s stock.

Palantir Technologies Company Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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