Fund Advisors of America Inc FL Takes $1.63 Million Position in Palantir Technologies Inc. $PLTR

Fund Advisors of America Inc FL bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,177 shares of the company’s stock, valued at approximately $1,631,000. Palantir Technologies comprises approximately 1.5% of Fund Advisors of America Inc FL’s portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies in the fourth quarter worth $450,000. Bison Wealth LLC increased its stake in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after buying an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after buying an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after buying an additional 1,694 shares during the last quarter. Finally, Vivaldi Capital Management LP bought a new position in shares of Palantir Technologies in the second quarter valued at about $315,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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Palantir Technologies Price Performance

Palantir Technologies stock opened at $128.47 on Friday. The business’s 50-day simple moving average is $137.94 and its 200 day simple moving average is $152.57. The stock has a market cap of $307.98 billion, a price-to-earnings ratio of 144.35, a P/E/G ratio of 2.04 and a beta of 1.53. Palantir Technologies Inc. has a 12-month low of $122.68 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLTR. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. DZ Bank initiated coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Friday, June 5th. Benchmark lowered shares of Palantir Technologies to a “hold” rating in a research report on Tuesday. Finally, Mizuho lowered their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Check Out Our Latest Stock Analysis on Palantir Technologies

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the sale, the insider owned 199,759 shares in the company, valued at $27,175,214.36. The trade was a 8.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by company insiders.

About Palantir Technologies

(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.

Further Reading

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

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