Gradient Investments LLC Reduces Position in Palantir Technologies Inc. $PLTR

Gradient Investments LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 53.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,575 shares of the company’s stock after selling 3,002 shares during the period. Gradient Investments LLC’s holdings in Palantir Technologies were worth $470,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Global Wealth Strategies & Associates raised its stake in shares of Palantir Technologies by 36.1% during the 3rd quarter. Global Wealth Strategies & Associates now owns 230 shares of the company’s stock valued at $42,000 after buying an additional 61 shares during the last quarter. Accuvest Global Advisors boosted its position in Palantir Technologies by 0.7% during the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after purchasing an additional 63 shares in the last quarter. Ignite Planners LLC grew its holdings in Palantir Technologies by 0.4% in the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock valued at $2,094,000 after purchasing an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. increased its position in shares of Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after buying an additional 72 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its holdings in Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider directly owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 359,325 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 $58,925,706.75. Following the sale, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $1,054,825,989.42. This represents a 5.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,844 shares of company stock worth $164,750,951 over the last three months. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $185.69 on Friday. The stock has a market cap of $442.58 billion, a PE ratio of 442.13, a price-to-earnings-growth ratio of 6.87 and a beta of 1.49. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52. The firm has a fifty day moving average price of $179.38 and a 200 day moving average price of $164.99.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s revenue was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of several research reports. HSBC boosted their price objective on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Piper Sandler lifted their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada upped their price target on Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, November 4th. Robert W. Baird increased their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Company 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.