Palantir Technologies Inc. (NYSE:PLTR) Stock Position Decreased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC trimmed its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 91.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,834 shares of the company’s stock after selling 109,019 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Palantir Technologies were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in Palantir Technologies in the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the second quarter worth about $30,000. Finally, Beacon Capital Management LLC lifted its position in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. This represents a 2.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,551,467 shares of company stock valued at $1,435,420,536 in the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $61.25 on Tuesday. The firm has a market capitalization of $137.17 billion, a PE ratio of 306.25 and a beta of 2.70. The company’s fifty day moving average price is $43.72 and its two-hundred day moving average price is $32.36. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00.

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

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. DA Davidson raised 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, November 5th. Mizuho boosted their price objective 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. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Wedbush lifted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies 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.