Palumbo Wealth Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,139 shares of the company’s stock, valued at approximately $228,000.
Several other hedge funds have also modified their holdings of PLTR. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the third quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC boosted its stake in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies in the second quarter valued at approximately $30,000. 45.65% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on PLTR shares. DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Northland Securities began coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target on the stock. Finally, Monness Crespi & Hardt reduced their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.86.
Insiders Place Their Bets
In other news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palantir Technologies news, insider David A. Glazer sold 72,500 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the completion of the sale, the insider now directly owns 298,012 shares in the company, valued at $9,292,014.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,204,508 shares of company stock worth $802,654,666 over the last quarter. 12.93% of the stock is currently owned by company insiders.
Palantir Technologies Trading Down 4.7 %
NYSE PLTR traded down $2.04 on Thursday, hitting $41.65. 14,823,808 shares of the company were exchanged, compared to its average volume of 56,013,473. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.14. The company has a market cap of $93.27 billion, a PE ratio of 257.18 and a beta of 2.72. The stock has a fifty day moving average of $37.58 and a 200-day moving average of $29.27.
Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.
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.
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