OLD Point Trust & Financial Services N A Sells 9,890 Shares of Palantir Technologies Inc. $PLTR

OLD Point Trust & Financial Services N A reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,094 shares of the company’s stock after selling 9,890 shares during the quarter. Palantir Technologies accounts for 4.3% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 2nd largest position. OLD Point Trust & Financial Services N A’s holdings in Palantir Technologies were worth $13,334,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $450,000. Bison Wealth LLC grew its position in Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after acquiring an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC increased its stake in Palantir Technologies by 38.0% during the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares during the period. Algert Global LLC purchased a new stake in Palantir Technologies during the first quarter worth about $2,246,000. Finally, Aptus Capital Advisors LLC lifted its position in shares of Palantir Technologies by 3.9% during the first quarter. Aptus Capital Advisors LLC now owns 49,594 shares of the company’s stock worth $4,186,000 after purchasing an additional 1,858 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Piper Sandler boosted their target price on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Northland Securities upped their price target on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Bank of America lifted their price objective on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings upgraded shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Trading Down 5.6%

Shares of Palantir Technologies stock opened at $177.29 on Thursday. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52. The stock has a market cap of $422.56 billion, a price-to-earnings ratio of 422.13, a PEG ratio of 7.28 and a beta of 1.49. The company has a fifty day simple moving average of $179.37 and a 200-day simple moving average of $164.85.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 62.8% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the transaction, the insider owned 251,409 shares in the company, valued at approximately $40,818,765.24. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Glazer sold 15,557 shares of the business’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 $2,551,192.43. Following the sale, the insider owned 415,612 shares in the company, valued at $68,156,211.88. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,008,844 shares of company stock valued at $164,750,951. 9.23% of the stock is owned by company insiders.

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.