Aviance Capital Partners LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Aviance Capital Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,103 shares of the company's stock, valued at approximately $262,000.

Other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $450,000. Fisher Asset Management LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $647,000. SRS Capital Advisors Inc. boosted its stake in shares of Palantir Technologies by 133.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 921 shares of the company's stock valued at $70,000 after purchasing an additional 526 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Palantir Technologies by 46.3% in the 4th quarter. Assetmark Inc. now owns 1,191 shares of the company's stock valued at $90,000 after purchasing an additional 377 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Palantir Technologies by 16.3% in the 4th quarter. Atria Investments Inc now owns 63,954 shares of the company's stock valued at $4,837,000 after purchasing an additional 8,940 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at $49,219,689.05. The trade was a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock worth $186,110,685 over the last ninety days. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $134.27 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The firm has a 50 day moving average price of $128.47 and a two-hundred day moving average price of $101.48. The firm has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.47 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $89.32.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.