EverSource Wealth Advisors LLC Sells 34,125 Shares of Palantir Technologies Inc. (NYSE:PLTR)

EverSource Wealth Advisors LLC decreased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 247,197 shares of the company’s stock after selling 34,125 shares during the period. EverSource Wealth Advisors LLC’s holdings in Palantir Technologies were worth $9,196,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,551,467 shares of company stock worth $1,435,420,536 in the last ninety days. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLTR. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Down 4.5 %

Shares of PLTR stock traded down $2.84 on Wednesday, reaching $60.14. The company’s stock had a trading volume of 20,184,906 shares, compared to its average volume of 58,624,000. The stock’s 50 day simple moving average is $44.29 and its 200-day simple moving average is $32.64. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The company has a market capitalization of $137.00 billion, a P/E ratio of 314.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. During the same period last year, the business earned $0.03 earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis. Research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.