Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by MN Wealth Advisors LLC

MN Wealth Advisors LLC lowered its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 54.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,724 shares of the company’s stock after selling 6,875 shares during the quarter. MN Wealth Advisors LLC’s holdings in Palantir Technologies were worth $213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. raised its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 2.2 %

PLTR opened at $42.44 on Wednesday. The firm has a market cap of $94.51 billion, a PE ratio of 353.67 and a beta of 2.72. The business has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $27.72. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $44.39.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,837,176 shares of company stock worth $649,593,747 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PLTR shares. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Monness Crespi & Hardt decreased their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Bank of America increased their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.29.

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.