Cyndeo Wealth Partners LLC Trims Position in Palantir Technologies Inc. $PLTR

Cyndeo Wealth Partners LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,932 shares of the company’s stock after selling 3,754 shares during the period. Palantir Technologies makes up about 1.0% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 28th biggest position. Cyndeo Wealth Partners LLC’s holdings in Palantir Technologies were worth $17,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Matauro LLC boosted its holdings in Palantir Technologies by 1.0% in the third quarter. Matauro LLC now owns 11,526 shares of the company’s stock valued at $2,103,000 after purchasing an additional 111 shares during the last quarter. Quotient Wealth Partners LLC boosted its stake in shares of Palantir Technologies by 2.7% in the third quarter. Quotient Wealth Partners LLC now owns 12,403 shares of the company’s stock worth $2,263,000 after buying an additional 329 shares during the last quarter. Abound Wealth Management grew its holdings in Palantir Technologies by 46.1% during the third quarter. Abound Wealth Management now owns 1,185 shares of the company’s stock worth $216,000 after acquiring an additional 374 shares during the period. Perpetual Ltd raised its position in Palantir Technologies by 42.2% during the third quarter. Perpetual Ltd now owns 26,378 shares of the company’s stock valued at $4,812,000 after acquiring an additional 7,828 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in Palantir Technologies by 154.4% in the third quarter. Focus Financial Network Inc. now owns 31,252 shares of the company’s stock valued at $5,701,000 after acquiring an additional 18,966 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PLTR shares. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Bank of America increased their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings upgraded shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, HSBC raised their target price on Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $172.28.

Check Out Our Latest Research Report on Palantir Technologies

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the sale, the insider directly owned 251,409 shares of the company’s stock, valued at $40,818,765.24. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 15,557 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $2,551,192.43. Following the sale, the insider owned 415,612 shares of the company’s stock, valued at $68,156,211.88. The trade was a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over 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 corporate insiders.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Stock Up 4.1%

PLTR opened at $193.38 on Friday. The firm’s fifty day simple moving average is $179.74 and its two-hundred day simple moving average is $165.42. Palantir Technologies Inc. has a 52-week low of $63.40 and a 52-week high of $207.52. The company has a market cap of $460.91 billion, a price-to-earnings ratio of 460.44, a PEG ratio of 7.20 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 62.8% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

About Palantir Technologies

(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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