Prospera Financial Services Inc Sells 1,252 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Prospera Financial Services Inc lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,951 shares of the company’s stock after selling 1,252 shares during the quarter. Prospera Financial Services Inc’s holdings in Palantir Technologies were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter worth $25,000. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC grew its stake in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after acquiring an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Palantir Technologies by 47.5% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after acquiring an additional 380 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PLTR shares. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Northland Securities increased 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 note on Tuesday, November 5th. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Wedbush increased their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Up 4.8 %

NYSE:PLTR opened at $64.33 on Friday. The business’s 50-day simple moving average is $45.94 and its two-hundred day simple moving average is $33.31. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00. The stock has a market cap of $146.55 billion, a PE ratio of 321.65 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

About Palantir Technologies

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.