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

Cyndeo Wealth Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 170,404 shares of the company’s stock, valued at approximately $6,339,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. West Paces Advisors Inc. increased its position in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLTR shares. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Trading Up 2.3 %

NYSE:PLTR opened at $42.97 on Friday. The firm has a market capitalization of $96.23 billion, a PE ratio of 252.78 and a beta of 2.72. The stock has a 50 day moving average of $35.60 and a 200-day moving average of $28.10. Palantir Technologies Inc. has a 52 week low of $14.48 and a 52 week high of $44.39.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value 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. This represents 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 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is currently owned by insiders.

Palantir Technologies 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.