Palantir Technologies Inc. $PLTR Shares Sold by Financial Connections Group Inc.

Financial Connections Group Inc. lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 62.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,941 shares of the company’s stock after selling 6,530 shares during the period. Financial Connections Group Inc.’s holdings in Palantir Technologies were worth $718,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. State Street Corp grew its holdings in Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock valued at $12,879,667,000 after purchasing an additional 6,097,629 shares during the period. Norges Bank acquired a new position in Palantir Technologies during the second quarter worth approximately $3,307,457,000. Invesco Ltd. raised its stake in Palantir Technologies by 16.0% during the second quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock worth $2,806,182,000 after purchasing an additional 2,838,300 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $2,543,888,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 9,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $185.91, for a total value of $1,673,190.00. Following the transaction, the insider owned 413,639 shares in the company, valued at $76,899,626.49. The trade was a 2.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $6,115,000.00. Following the sale, the insider owned 592 shares of the company’s stock, valued at $92,500. This represents a 98.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,008,844 shares of company stock worth $164,750,951 over the last three months. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $193.38 on Friday. The firm has a market capitalization of $460.91 billion, a PE ratio of 460.44, a price-to-earnings-growth ratio of 7.50 and a beta of 1.49. Palantir Technologies Inc. has a one year low of $63.40 and a one year high of $207.52. The stock’s 50 day moving average price is $179.74 and its 200 day moving average price is $165.64.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $0.10 earnings per share. Palantir Technologies’s revenue for the quarter was up 62.8% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of several research reports. CICC Research increased their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Daiwa Capital Markets raised their price objective on Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Piper Sandler increased their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Five 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.28.

Check Out Our Latest Research Report on Palantir Technologies

Palantir Technologies News Summary

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

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.

Recommended Stories

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTRFree Report).

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

Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.