Western Pacific Wealth Management LP Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

by · The Markets Daily

Western Pacific Wealth Management LP boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 3.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,815 shares of the company’s stock after purchasing an additional 2,274 shares during the period. Palantir Technologies comprises 1.6% of Western Pacific Wealth Management LP’s portfolio, making the stock its 12th largest position. Western Pacific Wealth Management LP’s holdings in Palantir Technologies were worth $2,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA bought a new position in Palantir Technologies during the 3rd quarter worth approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new position in Palantir Technologies during the 3rd quarter worth approximately $6,339,000. Seven Grand Managers LLC bought a new position in Palantir Technologies during the 3rd quarter worth approximately $930,000. Finally, Silvant Capital Management LLC lifted its holdings in Palantir Technologies by 28.2% during the 3rd quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock worth $8,613,000 after buying an additional 50,883 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Wedbush increased their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.71.

Read Our Latest Analysis on Palantir Technologies

Palantir Technologies Price Performance

PLTR opened at $55.87 on Friday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $56.47. The stock has a market cap of $125.12 billion, a P/E ratio of 279.35 and a beta of 2.70. The stock’s 50 day moving average price is $39.10 and its 200 day moving average price is $30.15.

Palantir Technologies (NYSE:PLTR – Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the firm earned $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity

In other news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the transaction, the insider now directly owns 612,006 shares in the company, valued at approximately $18,507,061.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the sale, the insider now directly owns 612,006 shares of the company’s stock, valued at approximately $18,507,061.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,482,878 shares of company stock worth $1,044,202,496. 12.93% of the stock is owned by company insiders.

Palantir Technologies Profile

(Free Report)

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.

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