Inman Jager Wealth Management LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Palantir Technologies during the second quarter worth about $3,307,457,000. Vanguard Group Inc. increased its position in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. State Street Corp increased its position in Palantir Technologies by 6.9% during the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares in the last quarter. Invesco Ltd. raised its holdings in Palantir Technologies by 16.0% in the second quarter. Invesco Ltd. now owns 20,585,256 shares of the company's stock valued at $2,806,182,000 after buying an additional 2,838,300 shares during the period. Finally, Clear Street LLC acquired a new position in Palantir Technologies during the second quarter valued at approximately $295,508,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Palantir Technologies
In other Palantir Technologies news, insider Ryan D. Taylor sold 12,000 shares of the company's stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $181.35, for a total transaction of $2,176,200.00. Following the sale, the insider owned 239,409 shares in the company, valued at $43,416,822.15. This represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 19,004 shares of the business's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $2,969,375.00. Following the completion of the sale, the insider owned 642,786 shares of the company's stock, valued at $100,435,312.50. This trade represents a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,023,444 shares of company stock valued at $167,394,629 over the last 90 days. Corporate insiders own 12.93% of the company's stock.
Trending Headlines about Palantir Technologies
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Palantir Technologies Trading Down 1.1%
Palantir Technologies stock opened at $165.70 on Wednesday. Palantir Technologies Inc. has a 52 week low of $66.12 and a 52 week high of $207.52. The stock has a market cap of $394.94 billion, a P/E ratio of 394.53, a price-to-earnings-growth ratio of 4.21 and a beta of 1.54. The stock has a 50 day moving average of $176.53 and a 200-day moving average of $173.69.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group set a $208.00 price objective on shares of Palantir Technologies in a research report on Thursday, January 22nd. HSBC upped their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a "hold" rating in a research report on Wednesday, November 5th. Citigroup raised Palantir Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $210.00 to $235.00 in a research report on Monday, January 12th. Raymond James Financial reaffirmed a "market perform" rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Finally, Weiss Ratings lowered Palantir Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $184.07.
Check Out Our Latest Report on PLTR
Palantir Technologies Profile
(
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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