Miller Wealth Advisors LLC Decreases Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Miller Wealth Advisors LLC lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 21.4% during the third quarter, HoldingsChannel reports. The firm owned 1,142 shares of the company’s stock after selling 311 shares during the period. Palantir Technologies comprises approximately 0.0% of Miller Wealth Advisors LLC’s portfolio, making the stock its 29th biggest holding. Miller Wealth Advisors LLC’s holdings in Palantir Technologies were worth $42,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA purchased a new stake in Palantir Technologies in the 3rd quarter worth approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new position in shares of Palantir Technologies during the third quarter valued at approximately $6,339,000. Seven Grand Managers LLC purchased a new stake in Palantir Technologies in the third quarter worth $930,000. Finally, Silvant Capital Management LLC increased its position in Palantir Technologies by 28.2% during the 3rd quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock valued at $8,613,000 after purchasing an additional 50,883 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 5.4 %

Shares of Palantir Technologies stock opened at $53.88 on Wednesday. The firm has a market cap of $120.66 billion, a price-to-earnings ratio of 300.90 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $53.97. The business has a 50-day moving average price of $38.19 and a 200-day moving average price of $29.75.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results 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. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,204,508 shares of company stock valued at $802,654,666 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.93.

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.