Patron Partners LLC Lowers Position in Palantir Technologies Inc. (NYSE:PLTR)

Patron Partners LLC decreased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 35.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,221 shares of the company’s stock after selling 4,431 shares during the period. Patron Partners LLC’s holdings in Palantir Technologies were worth $306,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Walter & Keenan Wealth Management LLC IN ADV grew its stake in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC increased its stake in shares of Palantir Technologies by 0.3% in the third 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 in the last quarter. Quantum Private Wealth LLC grew its stake in Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after buying an additional 250 shares in the last quarter. LCM Capital Management Inc raised its holdings in Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after acquiring an additional 300 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV boosted its holdings in shares of Palantir Technologies by 0.6% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock worth $1,799,000 after acquiring an additional 300 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $60.27 on Tuesday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $62.08. The company’s 50 day moving average price is $40.71 and its 200-day moving average price is $30.98. The stock has a market capitalization of $134.97 billion, a price-to-earnings ratio of 301.37 and a beta of 2.70.

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, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for 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 company’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 72,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total value of $2,260,550.00. Following the completion of the sale, the insider now owns 298,012 shares of the company’s stock, valued at $9,292,014.16. This trade represents 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. In related news, insider David A. Glazer sold 72,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total value of $2,260,550.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $9,292,014.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,462,878 shares of company stock worth $1,043,597,696 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Wedbush increased their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Monness Crespi & Hardt reduced their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.