Wedmont Private Capital Purchases 224,263 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Wedmont Private Capital boosted its Palantir stake by 518.3% in Q3, buying 224,263 shares to hold 267,535 shares worth about $48.74 million, making PLTR its 14th-largest position (~1.8% of the fund).
• Palantir beat Q results with $0.21 EPS vs $0.17 expected and $1.18B revenue (up 62.8% YoY), but the stock remains volatile (opened $177.29; 12‑month high $207.52 / low $63.40) and trades at a stretched PE of 422.
• Insiders have sold roughly 1,008,844 shares (~$164.8M) in the past three months, and analysts show mixed sentiment with a consensus "Hold" rating and an average price target of $172.28.

Wedmont Private Capital lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 518.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,535 shares of the company's stock after acquiring an additional 224,263 shares during the quarter. Palantir Technologies accounts for about 1.8% of Wedmont Private Capital's holdings, making the stock its 14th largest position. Wedmont Private Capital's holdings in Palantir Technologies were worth $48,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Signature Resources Capital Management LLC bought a new position in Palantir Technologies during the second quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies in the 1st quarter valued at about $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies in the first quarter worth about $27,000. Briaud Financial Planning Inc purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $27,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Palantir Technologies in the second quarter worth $27,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 5.6%

PLTR stock opened at $177.29 on Thursday. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52. The business has a 50 day moving average of $179.37 and a 200 day moving average of $164.85. The firm has a market cap of $422.56 billion, a PE ratio of 422.13, a price-to-earnings-growth ratio of 7.28 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its 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. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The business's revenue for the quarter was up 62.8% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price target on Palantir Technologies from $141.00 to $188.00 and gave the company a "neutral" rating in a research report on Tuesday, November 4th. Jefferies Financial Group reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Weiss Ratings raised Palantir Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Daiwa Capital Markets raised their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, November 6th. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average price target of $172.28.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 9,000 shares of Palantir Technologies stock in a transaction on Friday, December 12th. The stock was sold at an average price of $185.91, for a total transaction of $1,673,190.00. Following the completion of the sale, the insider directly owned 413,639 shares of the company's stock, valued at $76,899,626.49. The trade was a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Buckley sold 1,252 shares of Palantir Technologies stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $157.50, for a total value of $197,190.00. Following the completion of the transaction, the insider owned 47,044 shares in the company, valued at $7,409,430. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,750,951 in the last three months. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies 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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