Sequoia Financial Advisors LLC Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

Sequoia Financial Advisors LLC boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 14.6% in the first quarter, Holdings Channel reports. The institutional investor owned 231,724 shares of the company’s stock after acquiring an additional 29,435 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Palantir Technologies were worth $5,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. Morgan Stanley increased its position in shares of Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC lifted its position in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its stake in Palantir Technologies by 11.5% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,249,083 shares of the company’s stock worth $141,554,000 after buying an additional 850,687 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PLTR. Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Wedbush reiterated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Friday, June 21st. Finally, Citigroup increased their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $21.25.

Palantir Technologies Trading Up 5.3 %

Shares of PLTR stock traded up $1.38 on Friday, reaching $27.23. 46,703,729 shares of the company’s stock were exchanged, compared to its average volume of 34,334,692. The company’s fifty day simple moving average is $23.07 and its 200 day simple moving average is $21.77. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $27.50. The stock has a market capitalization of $60.64 billion, a PE ratio of 226.94, a P/E/G ratio of 5.97 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,372,153 shares of company stock worth $239,941,245. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Company 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.