Arete Wealth Advisors LLC Has $1.82 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Arete Wealth Advisors LLC reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 68.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 49,064 shares of the company’s stock after selling 107,055 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Palantir Technologies were worth $1,823,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLTR. Summit Securities Group LLC bought a new position in Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter valued at approximately $30,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 155,539 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the transaction, the insider now owns 331,369 shares of the company’s stock, valued at $11,604,542.38. This represents a 31.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,407,852 shares of company stock valued at $1,972,536,217. 12.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wedbush increased their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies Stock Down 2.2 %

PLTR opened at $70.89 on Wednesday. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $80.91. The company has a 50-day simple moving average of $53.65 and a 200 day simple moving average of $37.52. The stock has a market capitalization of $161.49 billion, a price-to-earnings ratio of 354.45, a P/E/G ratio of 10.29 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. Sell-side analysts anticipate 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.