Arete Wealth Advisors LLC Sells 107,055 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Arete Wealth Advisors LLC reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 68.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,064 shares of the company’s stock after selling 107,055 shares during the period. Arete Wealth Advisors LLC’s holdings in Palantir Technologies were worth $1,823,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLTR. State Street Corp boosted its position in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares during the period. ARK Investment Management LLC boosted its holdings in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the period. Finally, FMR LLC grew its position in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NYSE PLTR opened at $70.89 on Wednesday. The stock has a fifty day moving average of $53.65 and a 200-day moving average of $37.52. The stock has a market capitalization of $161.49 billion, a P/E ratio of 354.45, a price-to-earnings-growth ratio of 10.29 and a beta of 2.87. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $80.91.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,407,852 shares of company stock valued at $1,972,536,217. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLTR shares. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Profile

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.