Palantir Technologies Inc. $PLTR Shares Sold by Financial Connections Group Inc.

Financial Connections Group Inc. lessened its position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 62.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,941 shares of the company’s stock after selling 6,530 shares during the period. Financial Connections Group Inc.’s holdings in Palantir Technologies were worth $718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. Lionshead Wealth Management LLC boosted its holdings in Palantir Technologies by 0.4% in the 3rd quarter. Lionshead Wealth Management LLC now owns 13,130 shares of the company’s stock valued at $2,395,000 after purchasing an additional 56 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Palantir Technologies by 36.1% in the 3rd quarter. Global Wealth Strategies & Associates now owns 230 shares of the company’s stock valued at $42,000 after buying an additional 61 shares during the period. Accuvest Global Advisors boosted its stake in shares of Palantir Technologies by 0.7% in the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock valued at $1,232,000 after buying an additional 63 shares in the last quarter. Ignite Planners LLC grew its holdings in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after acquiring an additional 66 shares during the period. Finally, Hummer Financial Advisory Services Inc raised its position in Palantir Technologies by 4.2% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,720 shares of the company’s stock worth $314,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Trading Up 4.1%

Shares of PLTR opened at $193.38 on Friday. The company has a 50-day moving average of $179.74 and a two-hundred day moving average of $165.64. The stock has a market cap of $460.91 billion, a P/E ratio of 460.44, a PEG ratio of 7.50 and a beta of 1.49. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company posted $0.10 EPS. The company’s revenue was up 62.8% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on PLTR. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Royal Bank Of Canada upped their target price on shares of Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 4th. Daiwa Capital Markets lifted their price target on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Mizuho boosted their price target on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $172.28.

Check Out Our Latest Research Report on Palantir Technologies

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $50,613,053.65. Following the sale, the insider directly owned 592 shares in the company, valued at $97,082.08. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 149,872 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $24,577,509.28. Following the sale, the insider directly owned 642,786 shares in the company, valued at approximately $105,410,476.14. The trade was a 18.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,750,951 in the last ninety days. 9.23% of the stock is owned by insiders.

Palantir Technologies Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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