Dakota Wealth Management Sells 28,142 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Dakota Wealth Management reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 29.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 67,919 shares of the company’s stock after selling 28,142 shares during the period. Dakota Wealth Management’s holdings in Palantir Technologies were worth $2,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter worth $30,000. Finally, Beacon Capital Management LLC boosted its position in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $44.86 on Friday. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $45.07. The firm has a 50-day moving average of $36.86 and a 200 day moving average of $28.81. The company has a market cap of $99.90 billion, a P/E ratio of 373.83 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 in the last three months. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Monness Crespi & Hardt lowered their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.86.

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.