Affinity Wealth Management LLC Acquires Shares of 123,278 Palantir Technologies Inc. (NYSE:PLTR)

Affinity Wealth Management LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 123,278 shares of the company’s stock, valued at approximately $4,586,000. Palantir Technologies makes up about 0.8% of Affinity Wealth Management LLC’s portfolio, making the stock its 29th biggest position.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. boosted its holdings in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade 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 accessible through the SEC website. In other news, Director Peter Thiel sold 4,181,118 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the transaction, the director now owns 38,502,451 shares in the company, valued at $1,421,125,466.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,829,855 shares of company stock worth $649,272,355 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

NYSE:PLTR traded down $0.01 during trading hours on Monday, hitting $43.50. 9,582,196 shares of the company’s stock traded hands, compared to its average volume of 57,193,309. The stock’s fifty day moving average price is $34.08 and its two-hundred day moving average price is $27.44. The firm has a market cap of $96.87 billion, a P/E ratio of 362.58 and a beta of 2.72. Palantir Technologies Inc. has a twelve month low of $14.48 and a twelve month high of $44.39.

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 analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.29.

About Palantir Technologies

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.