Stratos Wealth Partners LTD. Acquires 16,997 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Posted by Defense World Staff on Oct 1st, 2023

Stratos Wealth Partners LTD. boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 30.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,140 shares of the company’s stock after buying an additional 16,997 shares during the period. Stratos Wealth Partners LTD.’s holdings in Palantir Technologies were worth $1,121,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Close Asset Management Ltd bought a new stake in Palantir Technologies in the 1st quarter valued at $28,000. Manchester Capital Management LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at about $28,000. Resurgent Financial Advisors LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $28,000. Laffer Tengler Investments bought a new position in shares of Palantir Technologies during the first quarter worth about $36,000. Finally, HHM Wealth Advisors LLC raised its position in Palantir Technologies by 1,510.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 4,446 shares of the company’s stock valued at $38,000 after buying an additional 4,170 shares during the last quarter. Institutional investors own 34.21% of the company’s stock.

Palantir Technologies Trading Up 1.5 %

PLTR opened at $16.00 on Friday. The stock’s fifty day simple moving average is $15.74 and its 200 day simple moving average is $13.17. Palantir Technologies Inc. has a 1-year low of $5.84 and a 1-year high of $20.24. The stock has a market cap of $34.43 billion, a PE ratio of -533.33, a price-to-earnings-growth ratio of 3.96 and a beta of 2.80.

Palantir Technologies (NYSE:PLTR – Get Free Report) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $533.88 million. Palantir Technologies had a negative net margin of 2.35% and a negative return on equity of 4.37%. Equities analysts forecast that Palantir Technologies Inc. will post 0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLTR shares. Citigroup raised their price target on shares of Palantir Technologies from $6.00 to $10.00 and gave the stock a “sell” rating in a research note on Monday, August 7th. Raymond James lifted their price target on shares of Palantir Technologies from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. HSBC initiated coverage on shares of Palantir Technologies in a research note on Friday, September 15th. They set a “hold” rating and a $16.00 price objective for the company. Jefferies Financial Group lifted their target price on Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. Finally, Mizuho increased their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.25.

View Our Latest Analysis on Palantir Technologies

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $15.31, for a total transaction of $107,170.00. Following the completion of the sale, the director now owns 192,830 shares in the company, valued at $2,952,227.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 37,076 shares of Palantir Technologies stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.38, for a total value of $570,228.88. Following the completion of the sale, the director now owns 1,808,819 shares in the company, valued at approximately $27,819,636.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $15.31, for a total transaction of $107,170.00. Following the transaction, the director now owns 192,830 shares in the company, valued at approximately $2,952,227.30. The disclosure for this sale can be found here. Insiders have sold a total of 2,620,619 shares of company stock valued at $49,321,222 in the last three months. 13.96% of the stock is currently owned by company insiders.

Palantir Technologies Profile

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.