Circle Wealth Management LLC Lowers Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Circle Wealth Management LLC reduced its position in Palantir Technologies Inc. (NYSE:PLTR) by 17.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,026 shares of the company’s stock after selling 19,855 shares during the quarter. Circle Wealth Management LLC’s holdings in Palantir Technologies were worth $3,609,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth $25,000. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC increased its stake in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE increased its stake in Palantir Technologies by 47.5% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after purchasing an additional 380 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLTR shares. Wedbush increased their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Mizuho increased their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $67.08 on Friday. The business’s 50 day moving average price is $48.86 and its 200-day moving average price is $34.87. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $67.88. The company has a market cap of $152.81 billion, a price-to-earnings ratio of 335.42, a PEG ratio of 8.93 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its 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. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the transaction, the director now directly owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 sale, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,163,181 shares of company stock worth $1,603,288,758 in the last three months. Corporate insiders own 12.93% of the company’s stock.

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.