Firethorn Wealth Partners LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

by · The Cerbat Gem

Firethorn Wealth Partners LLC purchased a new position in Palantir Technologies Inc. (NYSE:PLTR – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,532 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Palantir Technologies by 63.4% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,631 shares of the company’s stock worth $1,400,000 after acquiring an additional 14,600 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in Palantir Technologies by 8.2% in the third quarter. SeaCrest Wealth Management LLC now owns 31,843 shares of the company’s stock worth $1,185,000 after purchasing an additional 2,400 shares in the last quarter. CCG Wealth Management LLC bought a new stake in Palantir Technologies in the third quarter valued at about $291,000. Cascade Investment Group Inc. acquired a new stake in Palantir Technologies during the third quarter valued at approximately $257,000. Finally, Magnus Financial Group LLC lifted its holdings in Palantir Technologies by 3.6% during the 3rd quarter. Magnus Financial Group LLC now owns 27,066 shares of the company’s stock worth $1,007,000 after buying an additional 941 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 1.2 %

PLTR stock opened at $41.90 on Thursday. The company has a market capitalization of $93.31 billion, a P/E ratio of 349.17 and a beta of 2.72. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $44.39. The company has a 50-day simple moving average of $35.09 and a 200 day simple moving average of $27.82.

Palantir Technologies (NYSE:PLTR – Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. Equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the transaction, the insider now owns 612,006 shares in the company, valued at approximately $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLTR. Monness Crespi & Hardt lowered their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush boosted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $27.29.

View Our Latest Stock Report on Palantir Technologies

Palantir Technologies Profile

(Free Report)

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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