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

EverSource Wealth Advisors LLC cut its holdings in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 12.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PLTR. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC boosted its position in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock valued at $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Monness Crespi & Hardt lowered 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. Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a "sell" rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.71.

Insider Activity at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $411,407,221.68. This represents a 13.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,597,056 shares of company stock valued at $1,502,260,221. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $0.87 on Wednesday, hitting $62.11. 58,991,743 shares of the stock traded hands, compared to its average volume of 58,816,992. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00. The firm has a 50 day simple moving average of $44.83 and a two-hundred day simple moving average of $32.84. The firm has a market cap of $141.49 billion, a price-to-earnings ratio of 310.57 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted 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 return on equity of 9.94% and a net margin of 18.01%. The business's quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.