PFG Advisors Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

PFG Advisors raised its stake in Palantir Technologies Inc. (NYSE:PLTR) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,681 shares of the company’s stock after buying an additional 3,487 shares during the period. PFG Advisors’ holdings in Palantir Technologies were worth $726,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. increased its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC increased its stake in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the transaction, the insider now owns 331,369 shares in the company, valued at approximately $11,604,542.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the transaction, the insider now owns 331,369 shares in the company, valued at approximately $11,604,542.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 880,238 shares of company stock worth $27,776,572. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLTR. DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock 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 stock a “neutral” rating in a research note on Wednesday, August 7th. Raymond James lifted their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.79.

Palantir Technologies Stock Up 1.9 %

Shares of PLTR opened at $35.59 on Friday. The firm has a market cap of $79.26 billion, a PE ratio of 296.58, a price-to-earnings-growth ratio of 6.15 and a beta of 2.72. The company’s fifty day moving average is $29.69 and its two-hundred day moving average is $25.49. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $36.01.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 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 $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%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

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.