Capstone Wealth Management Group LLC Cuts Position in Palantir Technologies Inc. $PLTR

Capstone Wealth Management Group LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 31.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,018 shares of the company’s stock after selling 5,901 shares during the quarter. Palantir Technologies accounts for about 0.8% of Capstone Wealth Management Group LLC’s holdings, making the stock its 28th biggest holding. Capstone Wealth Management Group LLC’s holdings in Palantir Technologies were worth $1,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Beaumont Financial Advisors LLC lifted its position in shares of Palantir Technologies by 2.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock worth $527,000 after purchasing an additional 59 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after buying an additional 60 shares during the last quarter. Sandbox Financial Partners LLC raised its stake in Palantir Technologies by 1.3% in the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock valued at $873,000 after buying an additional 61 shares in the last quarter. San Luis Wealth Advisors LLC raised its stake in Palantir Technologies by 1.6% in the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock valued at $726,000 after buying an additional 63 shares in the last quarter. Finally, Monument Capital Management lifted its holdings in Palantir Technologies by 1.2% during the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock worth $949,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 17,128 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the sale, the insider owned 375,242 shares in the company, valued at $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the sale, the insider directly owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. This represents a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by company insiders.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Analysts Set New Price Targets

A number of research firms have recently commented on PLTR. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $205.00 to $151.00 in a report on Friday, May 1st. President Capital upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.50 to $133.00 in a research note on Monday, June 29th. Phillip Securities raised their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. BTIG Research downgraded shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Finally, Wedbush began coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.85.

Get Our Latest Research Report on Palantir Technologies

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $134.37 on Wednesday. The company’s fifty day moving average is $133.27 and its two-hundred day moving average is $147.37. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The company has a market capitalization of $322.13 billion, a P/E ratio of 150.98, a PEG ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Palantir Technologies 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.

See Also

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

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