B. Riley Wealth Advisors Inc. Sells 73,762 Shares of Palantir Technologies Inc. (NYSE:PLTR)

B. Riley Wealth Advisors Inc. decreased its position in Palantir Technologies Inc. (NYSE:PLTR) by 19.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 301,615 shares of the company’s stock after selling 73,762 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Palantir Technologies were worth $6,940,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Halpern Financial Inc. boosted its holdings in shares of Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC lifted its stake in Palantir Technologies by 4.8% in the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after purchasing an additional 481 shares during the last quarter. GSB Wealth Management LLC increased its position in shares of Palantir Technologies by 4.6% during the first quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after acquiring an additional 595 shares during the period. Finally, West Paces Advisors Inc. raised its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.0 %

Palantir Technologies stock traded up $0.52 during mid-day trading on Wednesday, hitting $26.89. The company had a trading volume of 28,526,121 shares, compared to its average volume of 54,648,281. The company has a market capitalization of $59.88 billion, a PE ratio of 225.44, a price-to-earnings-growth ratio of 6.25 and a beta of 2.71. Palantir Technologies Inc. has a 12 month low of $13.68 and a 12 month high of $29.83. The stock’s 50 day moving average price is $25.07 and its two-hundred day moving average price is $23.13.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The firm had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.78, for a total value of $103,900,000.00. Following the transaction, the director now owns 15,733,625 shares in the company, valued at $326,944,727.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares in the company, valued at $326,944,727.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,447,179 shares of company stock worth $242,285,913. 12.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday, May 7th. Citigroup boosted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. Argus assumed coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, HSBC boosted their price objective on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Seven research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.96.

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.