Meridian Wealth Management LLC Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Meridian Wealth Management LLC increased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 23.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,715 shares of the company’s stock after buying an additional 4,358 shares during the quarter. Meridian Wealth Management LLC’s holdings in Palantir Technologies were worth $845,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Creekmur Asset Management LLC raised its position in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after buying an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 4.9 %

Shares of NYSE:PLTR opened at $64.35 on Friday. The company has a market capitalization of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00. The stock’s fifty day simple moving average is $45.94 and its 200-day simple moving average is $33.39.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLTR. Northland Securities increased their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Wedbush raised their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Finally, Mizuho upped their price target 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. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.71.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the sale, the director now directly owns 158,280 shares in the company, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares in the company, valued at approximately $17,666,625.41. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,167,451 shares of company stock worth $1,603,067,889. Insiders own 12.93% of the company’s stock.

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.