Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Fortis Capital Management LLC

Fortis Capital Management LLC reduced its stake in Palantir Technologies Inc. (NYSE:PLTR) by 15.4% during the 3rd quarter, Holdings Channel reports. The fund owned 9,222 shares of the company’s stock after selling 1,678 shares during the quarter. Fortis Capital Management LLC’s holdings in Palantir Technologies were worth $343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after buying an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC raised its stake in Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after acquiring an additional 250 shares during the last quarter. Quantum Private Wealth LLC lifted its position in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after acquiring an additional 250 shares during the period. LCM Capital Management Inc grew its stake in shares of Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after purchasing an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its holdings in shares of Palantir Technologies by 0.6% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock valued at $1,799,000 after purchasing an additional 300 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Bank of America increased their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wedbush lifted their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,399,238 shares of company stock valued at $1,041,851,557. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Up 1.4 %

Shares of PLTR stock opened at $60.70 on Thursday. The stock has a market cap of $135.93 billion, a P/E ratio of 303.52 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $63.39. The business has a fifty day simple moving average of $41.30 and a 200-day simple moving average of $31.25.

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

Palantir Technologies Company 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.