AdvisorNet Financial Inc Decreases Stake in Palantir Technologies Inc. (NYSE:PLTR)

AdvisorNet Financial Inc decreased its holdings in Palantir Technologies Inc. (NYSE:PLTRFree Report) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,676 shares of the company’s stock after selling 2,530 shares during the quarter. AdvisorNet Financial Inc’s holdings in Palantir Technologies were worth $235,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaCrest Capital Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth $206,000. D.A. Davidson & CO. boosted its holdings in Palantir Technologies by 18.6% during the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after buying an additional 2,286 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Palantir Technologies during the first quarter worth about $1,475,000. Cibc World Market Inc. increased its holdings in Palantir Technologies by 38.3% in the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after buying an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Palantir Technologies by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after acquiring an additional 482,171 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $22.73 on Wednesday. The stock has a fifty day moving average of $22.87 and a two-hundred day moving average of $19.26. The company has a market capitalization of $50.30 billion, a PE ratio of 252.58, a price-to-earnings-growth ratio of 5.61 and a beta of 2.78. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. In the last three months, insiders sold 7,451,273 shares of company stock worth $184,229,502. Insiders own 13.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PLTR. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $18.35.

Get Our Latest Stock Report on Palantir Technologies

About Palantir Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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