FSA Wealth Management LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

FSA Wealth Management LLC acquired a new position in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,750 shares of the company’s stock, valued at approximately $65,000.

Other large investors also recently added to or reduced their stakes in the company. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after buying an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC grew its position in Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares in the last quarter. Quantum Private Wealth LLC increased its stake in Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares during the last quarter. Truvestments Capital LLC raised its position in Palantir Technologies by 2.4% during the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after purchasing an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc lifted its stake in Palantir Technologies by 0.9% during the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wedbush increased their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Mizuho lifted their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Stock Performance

NYSE PLTR opened at $67.08 on Monday. The stock has a market cap of $152.81 billion, a P/E ratio of 335.40, a price-to-earnings-growth ratio of 9.07 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $67.88. The stock has a 50 day simple moving average of $48.86 and a two-hundred day simple moving average of $35.05.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity

In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758. Corporate insiders own 12.93% of the company’s stock.

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.