TrinityPoint Wealth LLC Lowers Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

TrinityPoint Wealth LLC trimmed its position in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 91.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,834 shares of the company's stock after selling 109,019 shares during the period. TrinityPoint Wealth LLC's holdings in Palantir Technologies were worth $366,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC purchased a new position in shares of Palantir Technologies in the 1st quarter worth about $262,000. Orion Portfolio Solutions LLC boosted its position in shares of Palantir Technologies by 7.2% during the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company's stock valued at $1,351,000 after buying an additional 3,922 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at about $990,000. O Shaughnessy Asset Management LLC lifted its position in Palantir Technologies by 29.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 79,854 shares of the company's stock valued at $1,837,000 after purchasing an additional 18,170 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in Palantir Technologies by 95.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 26,400 shares of the company's stock valued at $607,000 after buying an additional 12,900 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 14,016 shares of the firm's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the sale, the insider now directly owns 576,023 shares in the company, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander D. Moore sold 20,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now owns 1,510,630 shares of the company's stock, valued at approximately $46,663,360.70. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,551,467 shares of company stock valued at $1,435,420,536 over the last 90 days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR traded up $1.18 during trading on Tuesday, reaching $62.44. The stock had a trading volume of 66,650,046 shares, compared to its average volume of 58,765,320. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00. The stock has a market cap of $142.24 billion, a PE ratio of 305.77 and a beta of 2.70. The business has a fifty day moving average price of $43.72 and a 200-day moving average price of $32.36.

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

Analyst Ratings Changes

Several research firms have recently commented on PLTR. Citigroup raised their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Mizuho increased their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an "underperform" rating in a research note on Tuesday, November 5th. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Royal Bank of Canada reissued an "underperform" rating and set a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $31.71.

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.