Magnus Financial Group LLC Sells 7,560 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Magnus Financial Group LLC lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 24.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,840 shares of the company’s stock after selling 7,560 shares during the period. Magnus Financial Group LLC’s holdings in Palantir Technologies were worth $409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC grew its holdings in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the period. Pacifica Partners Inc. acquired a new stake in Palantir Technologies during the fourth quarter worth approximately $27,000. GAMMA Investing LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $33,000. Provence Wealth Management Group acquired a new position in Palantir Technologies in the third quarter valued at approximately $34,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.5 %

Shares of PLTR opened at $22.85 on Monday. The stock has a 50 day moving average of $23.45 and a 200 day moving average of $20.08. The company has a market capitalization of $50.56 billion, a price-to-earnings ratio of 250.25, a PEG ratio of 5.52 and a beta of 2.78. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Company insiders own 13.96% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Wednesday, February 14th. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Raymond James upped their price target on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and upped their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Profile

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.