Octavia Wealth Advisors LLC Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Octavia Wealth Advisors LLC grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 21.3% during the 3rd quarter, Holdings Channel reports. The firm owned 22,722 shares of the company’s stock after purchasing an additional 3,987 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Palantir Technologies were worth $845,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. HBW Advisory Services LLC raised its stake in Palantir Technologies by 3.6% during the third quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock worth $379,000 after purchasing an additional 354 shares during the period. Evolution Wealth Advisors LLC raised its stake in shares of Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after acquiring an additional 360 shares during the period. First Horizon Advisors Inc. increased its stake in Palantir Technologies by 2.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after buying an additional 379 shares during the period. Sage Capital Advisors llc increased its stake in Palantir Technologies by 1.8% during the 3rd quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock worth $856,000 after buying an additional 400 shares during the period. Finally, Gradient Investments LLC increased its stake in Palantir Technologies by 21.4% during the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after buying an additional 406 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.0 %

Shares of Palantir Technologies stock opened at $43.51 on Friday. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $44.38. The company’s 50-day simple moving average is $34.08 and its 200-day simple moving average is $27.40. The firm has a market cap of $97.44 billion, a price-to-earnings ratio of 255.84 and a beta of 2.72.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLTR. Argus began coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their target price for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.29.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,831,855 shares of company stock worth $649,330,295. 12.93% of the stock is owned by company insiders.

Palantir Technologies 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.