Insight Wealth Strategies LLC Trims Stock Holdings in Palantir Technologies Inc. $PLTR

Insight Wealth Strategies LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,614 shares of the company’s stock after selling 4,304 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Palantir Technologies were worth $6,497,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $450,000. Bison Wealth LLC grew its holdings in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after buying an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 38.0% during the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after buying an additional 4,722 shares during the last quarter. Algert Global LLC acquired a new position in Palantir Technologies in the 1st quarter valued at about $2,246,000. Finally, Freestone Capital Holdings LLC raised its stake in Palantir Technologies by 3.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 12,696 shares of the company’s stock valued at $1,072,000 after acquiring an additional 429 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 308,635 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $50,613,053.65. Following the sale, the insider owned 592 shares of the company’s stock, valued at $97,082.08. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 15,557 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $2,551,192.43. Following the transaction, the insider directly owned 415,612 shares of the company’s stock, valued at approximately $68,156,211.88. This trade represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,676,161 in the last quarter. 9.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Mizuho lifted their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Northland Securities lifted their price objective on shares of Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $183.25 on Tuesday. The firm has a market capitalization of $436.76 billion, a price-to-earnings ratio of 436.32, a price-to-earnings-growth ratio of 7.12 and a beta of 1.49. The business’s 50 day simple moving average is $179.39 and its 200-day simple moving average is $164.33. Palantir Technologies Inc. has a 12 month low of $63.40 and a 12 month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) 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 firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. Palantir Technologies’s revenue was up 62.8% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.