PFG Advisors Buys 8,413 Shares of Palantir Technologies Inc. $PLTR

PFG Advisors increased its stake in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 44.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,484 shares of the company’s stock after purchasing an additional 8,413 shares during the period. PFG Advisors’ holdings in Palantir Technologies were worth $5,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 4.0% during the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after buying an additional 8,168,604 shares during the period. State Street Corp boosted its holdings in shares of Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock valued at $12,879,667,000 after buying an additional 6,097,629 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies during the second quarter worth $3,307,457,000. Invesco Ltd. raised its position in Palantir Technologies by 16.0% during the second quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock worth $2,806,182,000 after acquiring an additional 2,838,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,042,239 shares of the company’s stock worth $1,914,238,000 after acquiring an additional 427,840 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Stock Down 0.5%

NASDAQ PLTR opened at $156.43 on Tuesday. The firm has a 50-day moving average price of $154.93 and a two-hundred day moving average price of $169.08. Palantir Technologies Inc. has a 12-month low of $66.12 and a 12-month high of $207.52. The company has a market capitalization of $374.13 billion, a P/E ratio of 248.31, a P/E/G ratio of 3.12 and a beta of 1.70.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its quarterly earnings data on Monday, February 2nd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The company’s revenue was up 70.0% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 19,988 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $2,672,795.36. Following the completion of the transaction, the insider directly owned 219,421 shares in the company, valued at $29,340,976.12. This represents a 8.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 493,025 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $860,507,475.24. This trade represents a 7.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,054,279 shares of company stock worth $142,212,233. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. Jefferies Financial Group set a $208.00 price target on Palantir Technologies in a report on Thursday, January 22nd. Freedom Capital raised Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, February 13th. Truist Financial assumed coverage on Palantir Technologies in a research note on Tuesday, January 6th. They set a “buy” rating and a $223.00 target price for the company. William Blair upgraded Palantir Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, February 2nd. Finally, Loop Capital reduced their price objective on shares of Palantir Technologies from $230.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.68.

Read Our Latest Stock Report on Palantir Technologies

Palantir Technologies 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.

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

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