Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,197 shares of the company’s stock after selling 521 shares during the quarter. Palantir Technologies comprises about 0.8% of Castle Rock Wealth Management LLC’s holdings, making the stock its 28th largest holding. Castle Rock Wealth Management LLC’s holdings in Palantir Technologies were worth $3,158,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. West Paces Advisors Inc. lifted its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies in the second quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $0.15 during trading on Friday, hitting $43.37. 27,630,709 shares of the stock were exchanged, compared to its average volume of 57,239,172. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $44.38. The stock’s fifty day moving average is $33.70 and its 200 day moving average is $27.27. The stock has a market cap of $97.12 billion, a PE ratio of 256.07 and a beta of 2.72.

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

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now directly owns 562,006 shares in the company, valued at $22,452,139.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at $22,452,139.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,831,855 shares of company stock valued at $649,330,295. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Northland Securities initiated coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective on the stock. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.29.

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.