Palantir Technologies Inc. $PLTR is Tyler Stone Wealth Management’s 6th Largest Position

Tyler Stone Wealth Management cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,993 shares of the company’s stock after selling 34,137 shares during the quarter. Palantir Technologies makes up about 3.0% of Tyler Stone Wealth Management’s investment portfolio, making the stock its 6th biggest position. Tyler Stone Wealth Management’s holdings in Palantir Technologies were worth $18,811,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PLTR. Vanguard Group Inc. grew its position in Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. Truist Financial Corp lifted its holdings in Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after buying an additional 21,809 shares in the last quarter. State of Michigan Retirement System boosted its position in Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after buying an additional 12,300 shares during the period. Presilium Private Wealth LLC bought a new position in Palantir Technologies in the 2nd quarter worth about $204,000. Finally, New Century Financial Group LLC purchased a new position in shares of Palantir Technologies during the second quarter worth approximately $228,000. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $97,082.08. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 149,872 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $24,577,509.28. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $105,410,476.14. This represents a 18.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,008,844 shares of company stock worth $164,676,161. 9.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PLTR shares. Royal Bank Of Canada increased their price objective on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 4th. Citigroup upped their target price on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Cantor Fitzgerald raised their price target on Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Piper Sandler upped their price objective on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $183.57 on Friday. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52. The business has a fifty day moving average price of $179.31 and a 200 day moving average price of $163.62. The stock has a market capitalization of $437.53 billion, a P/E ratio of 437.08, a price-to-earnings-growth ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.