Prospera Financial Services Inc Has $1 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

Prospera Financial Services Inc trimmed its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,951 shares of the company’s stock after selling 1,252 shares during the period. Prospera Financial Services Inc’s holdings in Palantir Technologies were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its holdings in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after buying an additional 68,945 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. Tyler Stone Wealth Management boosted its stake in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares during the period. Heritage Wealth Management Inc. CA purchased a new position in Palantir Technologies during the third quarter valued at approximately $1,076,000. Finally, Cyndeo Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter valued at $6,339,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the sale, the director now directly owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. This represents a 7.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Monness Crespi & Hardt dropped their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Northland Securities boosted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Bank of America raised their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Performance

PLTR opened at $64.33 on Friday. The stock has a market capitalization of $146.55 billion, a PE ratio of 321.65 and a beta of 2.70. The stock’s 50 day moving average price is $45.94 and its 200-day moving average price is $33.31. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00.

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