First Horizon Advisors Inc. Buys 2,425 Shares of Palantir Technologies Inc. (NYSE:PLTR)

First Horizon Advisors Inc. boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 37.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,885 shares of the company’s stock after purchasing an additional 2,425 shares during the period. First Horizon Advisors Inc.’s holdings in Palantir Technologies were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Victory Capital Management Inc. bought a new position in Palantir Technologies during the fourth quarter worth about $1,031,000. First Trust Advisors LP acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $24,572,000. California Public Employees Retirement System acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $29,810,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $457,000. Finally, Reilly Financial Advisors LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 15.81% of the company’s stock.

Shares of NYSE PLTR opened at $24.14 on Friday. The stock’s fifty day moving average price is $22.39. The company has a market capitalization of $45.30 billion and a PE ratio of 127.05. Palantir Technologies Inc. has a twelve month low of $8.90 and a twelve month high of $45.00. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.11.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Tuesday, May 11th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $341.20 million for the quarter, compared to the consensus estimate of $332.22 million. Palantir Technologies’s revenue for the quarter was up 48.8% compared to the same quarter last year. As a group, analysts forecast that Palantir Technologies Inc. will post 0.08 EPS for the current fiscal year.

In related news, insider Alexander C. Karp sold 1,308,465 shares of the business’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $23.15, for a total value of $30,290,964.75. Following the sale, the insider now directly owns 7,737,410 shares of the company’s stock, valued at approximately $179,121,041.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 638,629 shares of the business’s stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $20.14, for a total transaction of $12,861,988.06. Following the completion of the sale, the insider now directly owns 7,068,787 shares in the company, valued at $142,365,370.18. The disclosure for this sale can be found here. Insiders sold a total of 7,684,581 shares of company stock worth $172,196,432 over the last ninety days. 17.00% of the stock is currently owned by insiders.

Several analysts have recently weighed in on the stock. Wolfe Research dropped their price objective on shares of Palantir Technologies from $23.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, May 12th. They noted that the move was a valuation call. Royal Bank of Canada lowered their price target on shares of Palantir Technologies from $27.00 to $20.00 and set a “sector perform” rating for the company in a report on Wednesday, May 12th. Jefferies Financial Group lowered their price target on shares of Palantir Technologies from $40.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, May 12th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Palantir Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 14th. Finally, William Blair lowered shares of Palantir Technologies from a “market perform” rating to an “underperform” rating in a report on Tuesday, February 16th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $21.44.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.

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

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