Straight Path Wealth Management Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Straight Path Wealth Management boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,603 shares of the company’s stock after buying an additional 4,253 shares during the quarter. Palantir Technologies makes up about 0.6% of Straight Path Wealth Management’s holdings, making the stock its 23rd largest position. Straight Path Wealth Management’s holdings in Palantir Technologies were worth $1,287,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. LJI Wealth Management LLC grew its holdings in shares of Palantir Technologies by 2.4% during the third quarter. LJI Wealth Management LLC now owns 41,784 shares of the company’s stock worth $1,554,000 after purchasing an additional 969 shares during the last quarter. RIA Advisory Group LLC purchased a new position in shares of Palantir Technologies during the third quarter worth about $2,045,000. Natixis Advisors LLC grew its holdings in shares of Palantir Technologies by 406.7% during the third quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock worth $2,036,000 after purchasing an additional 43,938 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Palantir Technologies during the third quarter worth about $2,218,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Palantir Technologies during the third quarter worth about $5,219,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NYSE:PLTR traded up $6.59 during mid-day trading on Friday, reaching $65.77. The stock had a trading volume of 155,280,388 shares, compared to its average volume of 58,381,973. The firm has a market capitalization of $147.29 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The business has a 50 day simple moving average of $43.19 and a 200 day simple moving average of $31.94.

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

Insider Activity

In other news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. This trade represents a 6.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The trade was a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,562,840 shares of company stock worth $1,435,787,316. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLTR shares. The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Monness Crespi & Hardt lowered their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Wedbush raised their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Company 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.