Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Evolution Wealth Advisors LLC

Evolution Wealth Advisors LLC reduced its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 32.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,267 shares of the company’s stock after selling 23,877 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Palantir Technologies were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in Palantir Technologies by 32.0% in the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after purchasing an additional 6,002 shares during the period. Sei Investments Co. lifted its position in Palantir Technologies by 20.1% during the 1st quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock worth $6,895,000 after acquiring an additional 50,159 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Palantir Technologies by 6.7% in the 1st quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after acquiring an additional 25,258 shares during the period. ProShare Advisors LLC acquired a new stake in Palantir Technologies in the first quarter valued at approximately $262,000. Finally, Orion Portfolio Solutions LLC raised its stake 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 purchasing an additional 3,922 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the sale, the director now directly owns 51,234,275 shares in the company, valued at $1,883,884,291.75. This trade represents a 7.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated 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 in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,562,840 shares of company stock worth $1,435,787,316. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

PLTR stock opened at $65.81 on Friday. The firm has a market cap of $147.38 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00. The firm has a fifty day moving average price of $43.19 and a two-hundred day moving average price of $31.94.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 business 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 earned $0.03 EPS. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wedbush boosted their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Monness Crespi & Hardt dropped their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $31.71.

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.