Atria Wealth Solutions Inc. Sells 19,613 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Palantir Technologies Inc. by 8.1%, selling 19,613 shares and maintaining 222,294 shares worth approximately $18.76 million.
• Palantir reported $1 billion in revenue for the last quarter, exceeding estimates and showing a 48% year-over-year increase, along with earnings per share of $0.16.
• Institutional investors own 45.65% of Palantir’s stock, with significant increases noted from firms like Invesco Ltd. and Toronto Dominion Bank.

Atria Wealth Solutions Inc. cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 222,294 shares of the company's stock after selling 19,613 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Palantir Technologies were worth $18,762,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Capital World Investors acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $253,816,000. Northern Trust Corp raised its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in Palantir Technologies during the 4th quarter worth $216,953,000. Finally, Toronto Dominion Bank lifted its holdings in Palantir Technologies by 266.2% during the 4th quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company's stock worth $297,449,000 after buying an additional 2,859,091 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 4.1%

Shares of Palantir Technologies stock opened at $160.66 on Tuesday. The stock's fifty day simple moving average is $141.12 and its 200 day simple moving average is $113.19. The company has a market capitalization of $379.14 billion, a PE ratio of 698.52, a PEG ratio of 13.15 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $161.40.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Morgan Stanley upped their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday, July 10th. Finally, UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $96.45.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 39,825 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $810,271,540.26. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director owned 2,348 shares in the company, valued at approximately $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 in the last quarter. Company insiders own 12.93% of the company's stock.

About Palantir Technologies

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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