Fiduciary Alliance LLC Lowers Stock Holdings in Palantir Technologies Inc. $PLTR

Fiduciary Alliance LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 16.4% during the third quarter, HoldingsChannel reports. The firm owned 121,083 shares of the company’s stock after selling 23,667 shares during the quarter. Palantir Technologies accounts for approximately 1.5% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 11th largest holding. Fiduciary Alliance LLC’s holdings in Palantir Technologies were worth $22,088,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLTR. Retirement Wealth Solutions LLC purchased a new position in Palantir Technologies during the third quarter worth about $31,000. Wedmont Private Capital increased its stake in shares of Palantir Technologies by 518.3% during the 3rd quarter. Wedmont Private Capital now owns 267,535 shares of the company’s stock valued at $48,737,000 after acquiring an additional 224,263 shares during the last quarter. Czech National Bank lifted its holdings in shares of Palantir Technologies by 11.1% during the 3rd quarter. Czech National Bank now owns 577,614 shares of the company’s stock worth $105,368,000 after acquiring an additional 57,668 shares during the period. Balefire LLC boosted its position in shares of Palantir Technologies by 8.8% in the third quarter. Balefire LLC now owns 5,140 shares of the company’s stock worth $938,000 after acquiring an additional 417 shares during the last quarter. Finally, Quantum Financial Advisors LLC acquired a new stake in shares of Palantir Technologies in the third quarter worth approximately $257,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the transaction, the insider directly owned 251,409 shares in the company, valued at approximately $40,818,765.24. This represents a 12.54% 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. Also, insider David A. Glazer sold 15,557 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $2,551,192.43. Following the sale, the insider directly owned 415,612 shares of the company’s stock, valued at approximately $68,156,211.88. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,008,844 shares of company stock worth $164,750,951 over the last 90 days. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Trading Down 5.6%

Shares of NASDAQ PLTR opened at $177.29 on Thursday. The stock has a fifty day moving average price of $179.37 and a 200 day moving average price of $164.85. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52. The company has a market cap of $422.56 billion, a P/E ratio of 422.13, a P/E/G ratio of 7.28 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company’s revenue was up 62.8% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Royal Bank Of Canada lifted their target price on Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, November 4th. Northland Securities upped their price target on Palantir Technologies from $14.00 to $18.50 in a research note on Tuesday, November 4th. Finally, Daiwa Capital Markets lifted their price objective on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Company 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.