Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC trimmed its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 7.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,496 shares of the company’s stock after selling 801 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Palantir Technologies were worth $353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth about $25,000. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Creekmur Asset Management LLC lifted its position in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 0.9 %

Shares of NYSE:PLTR opened at $41.92 on Friday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $45.14. The firm has a fifty day moving average price of $37.98 and a 200 day moving average price of $29.55. The stock has a market capitalization of $93.88 billion, a PE ratio of 246.60 and a beta of 2.70.

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

Insider Activity

In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares in the company, valued at $14,911,605. This trade represents a 0.00 % decrease in their position. 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 90 days. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Monness Crespi & Hardt lowered their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Wedbush raised their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $27.86.

Palantir Technologies 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.