TrueWealth Advisors LLC Lowers Stock Position in Palantir Technologies Inc. $PLTR

TrueWealth Advisors LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 76.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,744 shares of the company’s stock after selling 5,633 shares during the quarter. TrueWealth Advisors LLC’s holdings in Palantir Technologies were worth $318,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies during the first quarter worth approximately $27,000. 1248 Management LLC acquired a new stake in Palantir Technologies in the first quarter valued at approximately $27,000. Briaud Financial Planning Inc purchased a new stake in shares of Palantir Technologies in the second quarter valued at approximately $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Palantir Technologies in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 149,872 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $24,577,509.28. Following the transaction, the insider owned 642,786 shares in the company, valued at approximately $105,410,476.14. The trade was a 18.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,008,844 shares of company stock worth $164,750,951. 9.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Bank of America increased their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. CICC Research upped their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $172.28.

View Our Latest Stock Analysis on PLTR

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Stock Down 0.1%

Shares of NASDAQ PLTR opened at $193.95 on Friday. The firm has a 50-day simple moving average of $180.96 and a 200-day simple moving average of $167.26. The stock has a market capitalization of $462.27 billion, a price-to-earnings ratio of 461.80, a price-to-earnings-growth ratio of 7.53 and a beta of 1.49. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

About Palantir Technologies

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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