Primoris Wealth Advisors LLC Sells 500 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Primoris Wealth Advisors LLC lowered its stake in Palantir Technologies Inc. (NYSE:PLTR) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,750 shares of the company’s stock after selling 500 shares during the quarter. Palantir Technologies accounts for 1.3% of Primoris Wealth Advisors LLC’s portfolio, making the stock its 25th largest position. Primoris Wealth Advisors LLC’s holdings in Palantir Technologies were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Geneos Wealth Management Inc. lifted its position in shares of Palantir Technologies by 7.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 12,118 shares of the company’s stock valued at $279,000 after buying an additional 842 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Palantir Technologies by 9.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after buying an additional 2,427 shares during the period. Empowered Funds LLC raised its holdings in Palantir Technologies by 32.0% during the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after acquiring an additional 6,002 shares during the period. SG Americas Securities LLC grew its position in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares in the last quarter. Finally, PFG Advisors lifted its holdings in Palantir Technologies by 19.6% in the 1st quarter. PFG Advisors now owns 25,194 shares of the company’s stock worth $580,000 after purchasing an additional 4,125 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,482,878 shares of company stock valued at $1,044,202,496. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $2.51 during trading hours on Friday, hitting $58.39. The company had a trading volume of 84,124,034 shares, compared to its average volume of 57,568,527. The firm has a market cap of $130.76 billion, a P/E ratio of 292.11 and a beta of 2.70. The company has a 50-day moving average price of $40.13 and a two-hundred day moving average price of $30.59. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $58.48.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the topic of several recent analyst reports. Bank of America lifted their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group raised their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Wedbush boosted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.71.

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.