Palantir Technologies Inc. (NYSE:PLTR) Stock Holdings Increased by Financial Advocates Investment Management

Financial Advocates Investment Management lifted its position in Palantir Technologies Inc. (NYSE:PLTR) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 53,910 shares of the company’s stock after buying an additional 1,044 shares during the quarter. Financial Advocates Investment Management’s holdings in Palantir Technologies were worth $1,366,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter worth approximately $25,000. West Paces Advisors Inc. grew its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Bogart Wealth LLC grew its position in Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Halpern Financial Inc. grew its position in Palantir Technologies by 44.0% during the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.93.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $1.28 on Thursday, reaching $31.64. The stock had a trading volume of 20,509,896 shares, compared to its average volume of 54,615,172. The business’s 50-day moving average price is $27.95 and its two-hundred day moving average price is $24.79. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $33.13. The stock has a market cap of $70.46 billion, a P/E ratio of 263.58, a price-to-earnings-growth ratio of 5.66 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $22.94, for a total transaction of $468,480.68. Following the transaction, the director now owns 1,587,707 shares of the company’s stock, valued at $36,421,998.58. The disclosure for this sale can be found here. Insiders sold a total of 714,648 shares of company stock worth $21,567,539 in the last ninety days. 12.93% of the stock is currently owned by insiders.

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.