6,500 Shares in Palantir Technologies Inc. (NYSE:PLTR) Bought by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,500 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its stake in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the period. Heritage Wealth Management Inc. CA acquired a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $1,076,000. Finally, Cyndeo Wealth Partners LLC bought a new stake in Palantir Technologies in the 3rd quarter valued at $6,339,000. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PLTR. Northland Securities lifted their price objective 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. Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.71.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the sale, the director now owns 121,390 shares in the company, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,562,840 shares of company stock valued at $1,435,787,316. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $65.77 on Friday. The company has a market cap of $147.29 billion, a price-to-earnings ratio of 328.87 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 $66.00. The stock has a fifty day moving average price of $43.19 and a 200-day moving average price of $32.01.

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

About Palantir Technologies

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.