Fiduciary Alliance LLC Lowers Holdings in Palantir Technologies Inc. $PLTR

Fiduciary Alliance LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 16.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 121,083 shares of the company’s stock after selling 23,667 shares during the quarter. Palantir Technologies comprises about 1.5% of Fiduciary Alliance LLC’s holdings, making the stock its 11th largest position. Fiduciary Alliance LLC’s holdings in Palantir Technologies were worth $22,088,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PLTR. Global Wealth Strategies & Associates increased its stake in shares of Palantir Technologies by 36.1% during the third quarter. Global Wealth Strategies & Associates now owns 230 shares of the company’s stock worth $42,000 after acquiring an additional 61 shares during the period. Accuvest Global Advisors increased its position in Palantir Technologies by 0.7% during the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after purchasing an additional 63 shares during the period. Ignite Planners LLC raised its stake in shares of Palantir Technologies by 0.4% during the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after buying an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. raised its stake in shares of Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after buying an additional 72 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 149,872 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at $105,410,476.14. This trade represents a 18.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 308,635 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the completion of the transaction, the insider directly owned 592 shares of the company’s stock, valued at $97,082.08. The trade was a 99.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,750,951 in the last ninety days. 9.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. CICC Research upped their price objective on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Robert W. Baird upped their price target on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Northland Securities increased their price target on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Royal Bank Of Canada upped their target price on shares of Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 4th. Finally, HSBC increased their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Trading Down 5.6%

NASDAQ:PLTR opened at $177.29 on Thursday. The company has a market capitalization of $422.56 billion, a P/E ratio of 422.13, a price-to-earnings-growth ratio of 7.28 and a beta of 1.49. The firm has a 50-day moving average price of $179.37 and a two-hundred day moving average price of $164.85. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52.

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

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.