Rockline Wealth Management LLC Sells 4,580 Shares of Palantir Technologies Inc. $PLTR

Rockline Wealth Management LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 3.9% in the third quarter, HoldingsChannel.com reports. The firm owned 113,010 shares of the company’s stock after selling 4,580 shares during the quarter. Palantir Technologies accounts for approximately 4.3% of Rockline Wealth Management LLC’s portfolio, making the stock its 5th biggest holding. Rockline Wealth Management LLC’s holdings in Palantir Technologies were worth $20,615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after buying an additional 7,194,216 shares during the period. State Street Corp raised its position in shares of Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after acquiring an additional 6,097,629 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at about $3,307,457,000. Invesco Ltd. boosted its position in shares of Palantir Technologies by 16.0% during the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock valued at $2,806,182,000 after purchasing an additional 2,838,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,042,239 shares of the company’s stock valued at $1,914,238,000 after purchasing an additional 427,840 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $165.70 on Wednesday. The company has a market capitalization of $394.94 billion, a P/E ratio of 394.53, a price-to-earnings-growth ratio of 4.21 and a beta of 1.54. Palantir Technologies Inc. has a 52-week low of $66.12 and a 52-week high of $207.52. The business has a 50-day simple moving average of $176.53 and a two-hundred day simple moving average of $173.69.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced 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 analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Citigroup raised Palantir Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $210.00 to $235.00 in a research note on Monday, January 12th. Weiss Ratings cut shares of Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Jefferies Financial Group set a $208.00 price objective on shares of Palantir Technologies in a report on Thursday, January 22nd. Mizuho increased their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Truist Financial started coverage on Palantir Technologies in a report on Tuesday, January 6th. They issued a “buy” rating and a $223.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $184.07.

Check Out Our Latest Stock Analysis on Palantir Technologies

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 12,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $181.35, for a total value of $2,176,200.00. Following the completion of the transaction, the insider owned 239,409 shares in the company, valued at $43,416,822.15. This represents a 4.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 19,004 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $2,969,375.00. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. This represents a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,023,444 shares of company stock worth $167,394,629. Company insiders own 12.93% of the company’s stock.

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Palantir Technologies Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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