Centric Wealth Management Acquires Shares of 3,741 Palantir Technologies Inc. (NYSE:PLTR)

Centric Wealth Management bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,741 shares of the company’s stock, valued at approximately $139,000.

A number of other large investors also recently bought and sold shares of PLTR. Hantz Financial Services Inc. increased its holdings in Palantir Technologies by 37.5% in the third quarter. Hantz Financial Services Inc. now owns 2,585 shares of the company’s stock valued at $96,000 after buying an additional 705 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in Palantir Technologies during the third quarter worth $3,207,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Palantir Technologies by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,188,114 shares of the company’s stock valued at $378,998,000 after buying an additional 391,675 shares in the last quarter. Fiduciary Trust Co boosted its holdings in Palantir Technologies by 134.1% in the 3rd quarter. Fiduciary Trust Co now owns 44,617 shares of the company’s stock worth $1,660,000 after buying an additional 25,556 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Palantir Technologies by 4.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 459,494 shares of the company’s stock valued at $17,093,000 after acquiring an additional 19,036 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was 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. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,163,181 shares of company stock worth $1,603,288,758. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $66.05 on Friday. The stock has a market capitalization of $150.46 billion, a PE ratio of 412.81, a P/E/G ratio of 8.93 and a beta of 2.70. The company’s 50-day simple moving average is $48.27 and its 200-day simple moving average is $34.55. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $67.88.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 quarter in the previous year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. The Goldman Sachs Group boosted their price target 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. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.64.

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.