Palantir Technologies Inc. $PLTR Holdings Cut by Inman Jager Wealth Management LLC

Inman Jager Wealth Management LLC trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 30.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,370 shares of the company’s stock after selling 3,678 shares during the quarter. Inman Jager Wealth Management LLC’s holdings in Palantir Technologies were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Briaud Financial Planning Inc bought a new stake in Palantir Technologies in the second quarter valued at $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth about $27,000. Frazier Financial Advisors LLC bought a new stake in Palantir Technologies in the 2nd quarter valued at about $28,000. Delos Wealth Advisors LLC bought a new stake in Palantir Technologies in the 2nd quarter valued at about $29,000. Finally, Zeit Capital LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies News Roundup

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

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the sale, 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 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 Ryan D. Taylor sold 36,048 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the transaction, the insider owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This trade represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,023,444 shares of company stock worth $167,394,629. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $165.70 on Wednesday. The firm has a market cap of $394.94 billion, a PE ratio of 394.53, a P/E/G ratio of 4.21 and a beta of 1.54. Palantir Technologies Inc. has a 12 month low of $66.12 and a 12 month high of $207.52. The firm has a 50 day simple moving average of $176.53 and a 200 day simple moving average of $173.69.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLTR. Truist Financial assumed coverage on shares of Palantir Technologies in a research note on Tuesday, January 6th. They issued a “buy” rating and a $223.00 price target on the stock. Mizuho lifted their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. HSBC increased their price target on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Citigroup upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $210.00 to $235.00 in a research note on Monday, January 12th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $184.07.

Read Our Latest Report on Palantir Technologies

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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