Savvy Advisors Inc. Has $5.44 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Savvy Advisors Inc. boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 35.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,591 shares of the company’s stock after purchasing an additional 8,030 shares during the quarter. Savvy Advisors Inc.’s holdings in Palantir Technologies were worth $5,438,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Bare Financial Services Inc grew its position in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. Financial Consulate Inc. bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at $30,000. Retirement Wealth Solutions LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter valued at $31,000. United Financial Planning Group LLC bought a new position in Palantir Technologies during the third quarter worth $32,000. Finally, Flagship Wealth Advisors LLC bought a new position in Palantir Technologies during the third quarter worth $32,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $200.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 3rd. Jefferies Financial Group set a $208.00 price objective on shares of Palantir Technologies in a research report on Thursday, January 22nd. Robert W. Baird upgraded Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Tuesday, February 3rd. Phillip Securities decreased their target price on Palantir Technologies from $208.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, UBS Group upped their price target on Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.77.

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Palantir Technologies Stock Performance

Palantir Technologies stock opened at $148.46 on Friday. Palantir Technologies Inc. has a 1-year low of $66.12 and a 1-year high of $207.52. The firm has a market capitalization of $355.07 billion, a price-to-earnings ratio of 235.65, a price-to-earnings-growth ratio of 2.94 and a beta of 1.68. The firm’s fifty day moving average price is $145.80 and its two-hundred day moving average price is $167.71.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its earnings results on Monday, February 2nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 70.0% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 327,088 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $133.72, for a total transaction of $43,738,207.36. Following the transaction, the insider owned 592 shares of the company’s stock, valued at $79,162.24. The trade was a 99.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 493,025 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.78, for a total value of $65,956,884.50. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $860,507,475.24. This trade represents a 7.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,029,879 shares of company stock worth $137,746,253. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Company Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

See Also

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

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