3,013 Shares in Palantir Technologies Inc. $PLTR Bought by Prentice Wealth Management LLC

Key Points

• Prentice Wealth Management LLC purchased a new stake of 3,013 shares of Palantir Technologies (NASDAQ:PLTR) in Q3, valued at about $550,000.
• Several analysts have raised price targets (e.g., Piper Sandler to $225, Morgan Stanley to $205), but the stock's consensus rating remains a "Hold" with an average target of $172.28.
• Company insiders have been net sellers — including Alexander Karp and David Glazer — with over 1,008,844 shares sold in the past 90 days, though insiders still own 9.23% of the company.

Prentice Wealth Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,013 shares of the company's stock, valued at approximately $550,000.

Several other hedge funds also recently modified their holdings of PLTR. Vanguard Group Inc. raised its stake in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock valued at $28,043,432,000 after buying an additional 7,194,216 shares during the period. Truist Financial Corp boosted its holdings in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company's stock worth $73,204,000 after buying an additional 21,809 shares during the period. State of Michigan Retirement System grew its stake in Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company's stock valued at $127,923,000 after buying an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC acquired a new stake in Palantir Technologies during the second quarter worth approximately $204,000. Finally, New Century Financial Group LLC bought a new stake in Palantir Technologies in the 2nd quarter valued at $228,000. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PLTR shares. Daiwa Capital Markets lifted their target price on Palantir Technologies from $178.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, November 6th. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an "equal weight" rating in a report on Tuesday, November 4th. Weiss Ratings upgraded shares of Palantir Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. HSBC raised their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a "hold" rating in a report on Wednesday, November 5th. Finally, Piper Sandler increased their price target on Palantir Technologies from $201.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 4th. Five equities 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $172.28.

Palantir Technologies Trading Up 4.7%

Shares of Palantir Technologies stock opened at $185.69 on Friday. The company has a market cap of $442.58 billion, a PE ratio of 442.13, a price-to-earnings-growth ratio of 6.87 and a beta of 1.49. The company has a 50 day moving average of $179.38 and a 200-day moving average of $164.99. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 62.8% on a year-over-year basis. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 15,557 shares of the business's stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $2,551,192.43. Following the completion of the transaction, the insider owned 415,612 shares of the company's stock, valued at approximately $68,156,211.88. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 359,325 shares of the firm's stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $1,054,825,989.42. The trade was a 5.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,008,844 shares of company stock valued at $164,750,951. Company insiders own 9.23% of the company's stock.

Palantir Technologies Company 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.

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