Palantir Technologies Inc. $PLTR Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 715,870 shares of the company’s stock after selling 100,452 shares during the period. Palantir Technologies makes up approximately 3.7% of Salem Investment Counselors Inc.’s holdings, making the stock its 5th biggest holding. Salem Investment Counselors Inc.’s holdings in Palantir Technologies were worth $130,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Briaud Financial Planning Inc acquired a new stake in shares of Palantir Technologies in the second quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Palantir Technologies in the second quarter worth $27,000. Frazier Financial Advisors LLC acquired a new position in Palantir Technologies during the second quarter worth $28,000. Finally, Delos Wealth Advisors LLC bought a new position in Palantir Technologies in the second quarter valued at $29,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 39,136 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $6,115,000.00. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $92,500. This represents a 98.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 9,000 shares of Palantir Technologies stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $185.91, for a total transaction of $1,673,190.00. Following the completion of the sale, the insider owned 413,639 shares of the company’s stock, valued at $76,899,626.49. This trade represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,017,844 shares of company stock valued at $166,349,351. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 2.5%

Palantir Technologies stock opened at $187.75 on Wednesday. The company’s 50-day moving average price is $179.50 and its two-hundred day moving average price is $164.76. The stock has a market cap of $447.49 billion, a P/E ratio of 447.03, a P/E/G ratio of 7.10 and a beta of 1.49. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. CICC Research raised their target price on shares of Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Northland Securities lifted their price target on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Five research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Company Profile

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.