EverSource Wealth Advisors LLC Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

EverSource Wealth Advisors LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 20.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 178,637 shares of the company’s stock after selling 45,705 shares during the period. Palantir Technologies makes up 0.8% of EverSource Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest holding. EverSource Wealth Advisors LLC’s holdings in Palantir Technologies were worth $15,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC purchased a new position in Palantir Technologies during the 4th quarter worth $450,000. XTX Topco Ltd purchased a new position in Palantir Technologies during the 4th quarter worth $328,000. Gabelli Funds LLC purchased a new position in Palantir Technologies during the 4th quarter worth $1,739,000. United Capital Financial Advisors LLC grew its position in Palantir Technologies by 36.3% during the 4th quarter. United Capital Financial Advisors LLC now owns 35,501 shares of the company’s stock worth $2,685,000 after purchasing an additional 9,449 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Palantir Technologies by 98.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,119,241 shares of the company’s stock worth $235,908,000 after purchasing an additional 1,546,825 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 1.8%

Shares of PLTR opened at $181.02 on Friday. The stock has a market cap of $427.19 billion, a P/E ratio of 603.42, a PEG ratio of 10.39 and a beta of 2.60. The company has a 50-day moving average of $150.04 and a two-hundred day moving average of $118.54. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PLTR shares. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $136.61.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 30,812 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company’s stock, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock valued at $196,472,623 in the last quarter. 9.23% of the stock is owned by corporate insiders.

About Palantir Technologies

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.