Daymark Wealth Partners LLC Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Daymark Wealth Partners LLC bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,010 shares of the company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC bought a new position in Palantir Technologies during the 4th quarter worth about $396,000. Prospect Financial Services LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $339,000. Scarborough Advisors LLC bought a new position in Palantir Technologies in the fourth quarter worth about $141,000. Syon Capital LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $431,000. Finally, EP Wealth Advisors LLC grew its position in shares of Palantir Technologies by 25.1% in the 4th quarter. EP Wealth Advisors LLC now owns 16,516 shares of the company’s stock worth $284,000 after buying an additional 3,316 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. DA Davidson raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Jefferies Financial Group boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $43.49 on Friday. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $44.38. The company has a market capitalization of $97.39 billion, a PE ratio of 255.84 and a beta of 2.72. The company’s fifty day moving average price is $34.08 and its 200 day moving average price is $27.40.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the sale, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,831,855 shares of company stock worth $649,330,295. Company insiders own 12.93% of the company’s stock.

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.