Cypress Point Wealth Management LLC Has $221.89 Million Stake in Palantir Technologies Inc. $PLTR

Cypress Point Wealth Management LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,216,357 shares of the company’s stock after selling 16,775 shares during the period. Palantir Technologies makes up 44.9% of Cypress Point Wealth Management LLC’s portfolio, making the stock its biggest position. Cypress Point Wealth Management LLC owned approximately 0.05% of Palantir Technologies worth $221,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter worth approximately $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $27,000. Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies during the second quarter valued at approximately $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in Palantir Technologies in the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PLTR shares. Citigroup increased their target price on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Mizuho upped their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Finally, Robert W. Baird raised their price target on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.28.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 9,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $185.91, for a total value of $1,673,190.00. Following the transaction, the insider owned 413,639 shares of the company’s stock, valued at $76,899,626.49. This trade represents a 2.13% 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. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the transaction, the insider directly owned 251,409 shares in the company, valued at approximately $40,818,765.24. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders 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 insiders.

Palantir Technologies Stock Down 5.6%

NASDAQ PLTR opened at $177.29 on Thursday. The company has a 50-day moving average price of $179.37 and a 200-day moving average price of $164.85. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52. The firm has a market capitalization of $422.56 billion, a P/E ratio of 422.13, a PEG ratio of 7.28 and a beta of 1.49.

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

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.