WealthPlan Investment Management LLC Takes $543,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

WealthPlan Investment Management LLC purchased a new position in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,601 shares of the company’s stock, valued at approximately $543,000.

Several other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares in the last quarter. Heritage Wealth Management Inc. CA acquired a new stake in Palantir Technologies during the 3rd quarter valued at $1,076,000. Cyndeo Wealth Partners LLC purchased a new position in Palantir Technologies during the third quarter worth $6,339,000. Finally, Seven Grand Managers LLC acquired a new position in shares of Palantir Technologies in the third quarter worth $930,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $59.87 on Wednesday. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $62.08. The stock’s 50 day moving average price is $40.71 and its 200 day moving average price is $30.98. The firm has a market capitalization of $134.08 billion, a PE ratio of 299.36 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $32.00, for a total transaction of $5,120,000.00. Following the completion of the sale, the insider now owns 372,565 shares in the company, valued at $11,922,080. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 160,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $32.00, for a total value of $5,120,000.00. Following the transaction, the insider now directly owns 372,565 shares in the company, valued at approximately $11,922,080. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,399,238 shares of company stock valued at $1,041,851,557. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLTR. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $31.71.

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.