Wealth Architects LLC Sells 24,333 Shares of Palantir Technologies Inc. (NYSE:PLTR)

by · The Cerbat Gem

Wealth Architects LLC decreased its holdings in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,744 shares of the company’s stock after selling 24,333 shares during the quarter. Wealth Architects LLC’s holdings in Palantir Technologies were worth $1,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares during the last quarter. Marshall Wace LLP increased its position in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the period. Vanguard Group Inc. raised its holdings in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Palantir Technologies by 2,722.2% in the 2nd quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after purchasing an additional 1,655,997 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $55.51 on Thursday. The firm has a 50-day moving average of $38.60 and a 200-day moving average of $29.97. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $55.69. The company has a market cap of $124.30 billion, a P/E ratio of 277.53 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLTR. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Wedbush increased their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. DA Davidson boosted their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday. Mizuho raised their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.93.

Read Our Latest Report on PLTR

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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