Heritage Wealth Management Inc. CA Acquires New Stake in Palantir Technologies Inc. (NYSE:PLTR)

Heritage Wealth Management Inc. CA bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,913 shares of the company’s stock, valued at approximately $1,076,000. Palantir Technologies comprises approximately 0.8% of Heritage Wealth Management Inc. CA’s investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Greater Midwest Financial Group LLC lifted its holdings in Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after buying an additional 250 shares during the period. HBW Advisory Services LLC lifted its stake in shares of Palantir Technologies by 3.6% in the 3rd quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock valued at $379,000 after purchasing an additional 354 shares during the period. Evolution Wealth Advisors LLC boosted its position in shares of Palantir Technologies by 0.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after purchasing an additional 360 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after purchasing an additional 379 shares during the period. Finally, Sage Capital Advisors llc lifted its stake in Palantir Technologies by 1.8% in the third quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock valued at $856,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. DA Davidson boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. The Goldman Sachs Group increased their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America boosted 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. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Trading Up 2.3 %

PLTR stock opened at $42.97 on Monday. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $44.39. The stock has a market cap of $96.23 billion, a P/E ratio of 252.78 and a beta of 2.72. The stock’s fifty day simple moving average is $35.60 and its two-hundred day simple moving average is $28.13.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction 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 sale, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is owned by corporate insiders.

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.