Salem Investment Counselors Inc. Has $130.59 Million Position in Palantir Technologies Inc. $PLTR

Salem Investment Counselors Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 largest holding. Salem Investment Counselors Inc.'s holdings in Palantir Technologies were worth $130,589,000 as of its most recent SEC filing.Get Palantir Technologies alerts:MarketBeat Week in Review – 12/8 - 12/12A number of other hedge funds have also modified their holdings of the stock. Global Wealth Strategies & Associates raised its stake in Palantir Technologies by 36.1% during the third quarter. Global Wealth Strategies & Associates now owns 230 shares of the company's stock worth $42,000 after acquiring an additional 61 shares in the last quarter. Accuvest Global Advisors increased its position in shares of Palantir Technologies by 0.7% during the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company's stock worth $1,232,000 after purchasing an additional 63 shares in the last quarter. Ignite Planners LLC increased its position in shares of Palantir Technologies by 0.4% during the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after purchasing an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. lifted its holdings in Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after purchasing an additional 72 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its position in Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after buying an additional 73 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds. Palantir Technologies Trading Up 2.5%Shares of NASDAQ PLTR opened at $187.75 on Wednesday. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The firm's 50-day moving average is $179.50 and its 200-day moving average is $164.76. The firm has a market capitalization of $447.49 billion, a PE ratio of 447.03, a price-to-earnings-growth ratio of 7.10 and a beta of 1.49. Santa Claus May Be Coming Early for Palantir InvestorsPalantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business's revenue for the quarter was up 62.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year. Analyst Upgrades and DowngradesA number of research firms have recently issued reports on PLTR. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a "neutral" rating in a research note on Tuesday, November 4th. Citigroup lifted their price objective on Palantir Technologies from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, November 5th. Raymond James Financial restated a "market perform" rating on shares of Palantir Technologies in a report on Tuesday, November 4th. DA Davidson boosted their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 4th. Finally, UBS Group upped their target price on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $172.28.Beyond the Magnificent 7: Meet 3 of Tech’s Rising StarsGet Our Latest Stock Analysis on PLTRInsider Buying and Selling at Palantir TechnologiesIn related news, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares in the company, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 19,004 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 $2,969,375.00. Following the completion of the sale, the insider directly owned 642,786 shares of the company's stock, valued at approximately $100,435,312.50. This trade represents a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,017,844 shares of company stock valued at $166,349,351 over the last quarter. 12.93% of the stock is owned by corporate insiders. About Palantir Technologies (Free Report)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.Featured ArticlesFive stocks we like better than Palantir TechnologiesWhat is a Death Cross in Stocks?AI Chips Can’t Exist Without These 2 Underrated Tech GiantsAbout the Markup CalculatorWhy Taiwan Semiconductor's 6.5% Dip Could Be a Smart BuyHow to Profit From Value Investing RTX Surges to Record Highs as Defense Orders ExplodeWant to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Palantir Technologies Right Now?Before you consider Palantir Technologies, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.While Palantir Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here