Allen Mooney & Barnes Investment Advisors LLC Decreases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Allen Mooney & Barnes Investment Advisors LLC lowered its position in Palantir Technologies Inc. (NYSE:PLTR) by 29.7% during the third quarter, Holdings Channel reports. The institutional investor owned 18,304 shares of the company’s stock after selling 7,718 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Palantir Technologies were worth $681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLTR. HBW Advisory Services LLC lifted its holdings in shares of Palantir Technologies by 3.6% during the 3rd quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock valued at $379,000 after purchasing an additional 354 shares during the last quarter. Evolution Wealth Advisors LLC boosted its stake in Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after purchasing an additional 360 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after buying an additional 379 shares during the period. Sage Capital Advisors llc lifted its position in Palantir Technologies by 1.8% during the 3rd quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock worth $856,000 after acquiring an additional 400 shares during the period. Finally, Gradient Investments LLC lifted its holdings in shares of Palantir Technologies by 21.4% during the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after purchasing an additional 406 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Wedbush upped their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Argus started coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $43.42 on Tuesday. The stock has a market capitalization of $96.69 billion, a price-to-earnings ratio of 361.83 and a beta of 2.72. The business has a 50-day moving average of $34.46 and a 200 day moving average of $27.59. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $44.39.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data 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 company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the sale, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the 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 owns 562,006 shares in the company, valued at $22,452,139.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the sale, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,829,855 shares of company stock worth $649,272,355 over the last 90 days. 12.93% of the stock is owned by insiders.

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.