Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. reduced its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,501 shares of the company’s stock after selling 2,983 shares during the period. Palantir Technologies comprises 0.5% of Elite Wealth Management Inc.’s holdings, making the stock its 18th largest position. Elite Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Summit Securities Group LLC acquired a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth $30,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,163,181 shares of company stock worth $1,603,288,758. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 0.5 %

Shares of Palantir Technologies stock opened at $66.05 on Thursday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $67.88. The company has a 50 day moving average of $47.68 and a 200 day moving average of $34.33. The company has a market capitalization of $150.46 billion, a P/E ratio of 330.25 and a beta of 2.70.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Bank of America upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Wedbush increased their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $35.64.

Palantir Technologies 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.