Soltis Investment Advisors LLC Cuts Position in Palantir Technologies Inc. (NYSE:PLTR)

Soltis Investment Advisors LLC reduced its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 18.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,933 shares of the company’s stock after selling 1,807 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Palantir Technologies were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PLTR. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC grew its position in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after buying an additional 250 shares during the last quarter. Quantum Private Wealth LLC raised its stake in shares of Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after acquiring an additional 250 shares in the last quarter. Truvestments Capital LLC lifted its position in Palantir Technologies by 2.4% during the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after acquiring an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc boosted its stake in Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 39,252,313 shares of company stock valued at $1,967,089,241 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTR. Wedbush upped their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.93.

Palantir Technologies Price Performance

PLTR stock opened at $73.20 on Friday. The firm’s fifty day simple moving average is $55.02 and its 200-day simple moving average is $38.01. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $80.91. The company has a market capitalization of $166.75 billion, a P/E ratio of 453.19, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates 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 was up 30.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

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.