McAdam LLC Decreases Stock Holdings in Palantir Technologies Inc. $PLTR

McAdam LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 26.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,193 shares of the company’s stock after selling 3,242 shares during the quarter. McAdam LLC’s holdings in Palantir Technologies were worth $1,677,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies in the second quarter worth about $25,000. Briaud Financial Planning Inc purchased a new stake in Palantir Technologies in the second quarter worth $27,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Palantir Technologies during the second quarter worth $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at $28,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at $29,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 1.5%

Shares of NASDAQ:PLTR opened at $168.45 on Wednesday. The firm has a 50 day moving average of $177.23 and a 200 day moving average of $172.80. The company has a market capitalization of $401.50 billion, a price-to-earnings ratio of 401.09, a price-to-earnings-growth ratio of 4.30 and a beta of 1.54. Palantir Technologies Inc. has a 52 week low of $66.12 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business’s revenue was up 62.8% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. HSBC lifted their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Bank of America boosted their price target on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Finally, CICC Research upped their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $175.88.

Check Out Our Latest Analysis on Palantir Technologies

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 308,635 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the completion of the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $97,082.08. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares in the company, valued at $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,023,444 shares of company stock valued at $167,394,629 in the last three months. 12.93% of the stock is currently owned by insiders.

More Palantir Technologies News

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Palantir Technologies Company Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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