Dakota Wealth Management Reduces Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Dakota Wealth Management trimmed its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 29.3% in the 3rd quarter, Holdings Channel reports. The firm owned 67,919 shares of the company’s stock after selling 28,142 shares during the period. Dakota Wealth Management’s holdings in Palantir Technologies were worth $2,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Greater Midwest Financial Group LLC lifted its stake in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares during the period. HBW Advisory Services LLC increased its stake in shares of Palantir Technologies by 3.6% in the 3rd quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock worth $379,000 after purchasing an additional 354 shares in the last quarter. Evolution Wealth Advisors LLC raised its holdings in Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after purchasing an additional 360 shares during the period. First Horizon Advisors Inc. raised its holdings in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after purchasing an additional 379 shares during the period. Finally, Sage Capital Advisors llc grew its holdings in Palantir Technologies by 1.8% during the third quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock valued at $856,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 3.0 %

Shares of Palantir Technologies stock opened at $44.86 on Friday. Palantir Technologies Inc. has a twelve month low of $14.48 and a twelve month high of $45.07. The business has a 50-day moving average price of $36.86 and a 200-day moving average price of $28.81. The firm has a market cap of $99.90 billion, a price-to-earnings ratio of 373.83 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the prior year, the business earned $0.01 EPS. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the sale, the director now directly owns 138,304 shares of the company’s stock, valued at $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PLTR shares. Jefferies Financial Group upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. DA Davidson raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Mizuho upped their target price on shares of Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.86.

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.