Financial Engines Advisors L.L.C. Has $6.70 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Financial Engines Advisors L.L.C. reduced its position in Palantir Technologies Inc. by 9.4%, now holding 79,395 shares valued at approximately $6.70 million.
• Palantir's Q2 earnings surpassed expectations, reporting $0.16 earnings per share and $1 billion in revenue, a 48% increase compared to the same quarter last year.
• Multiple analysts are bullish on Palantir, with price targets ranging from $45 to $200, and a consensus rating of "Hold."

Financial Engines Advisors L.L.C. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,395 shares of the company's stock after selling 8,254 shares during the period. Financial Engines Advisors L.L.C.'s holdings in Palantir Technologies were worth $6,701,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $450,000. Bessemer Group Inc. lifted its holdings in shares of Palantir Technologies by 59.0% during the fourth quarter. Bessemer Group Inc. now owns 22,364 shares of the company's stock valued at $1,691,000 after acquiring an additional 8,299 shares during the period. Argent Trust Co acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $354,000. Townsquare Capital LLC grew its holdings in shares of Palantir Technologies by 29.3% in the 4th quarter. Townsquare Capital LLC now owns 49,157 shares of the company's stock worth $3,718,000 after purchasing an additional 11,151 shares during the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $1,335,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the sale, the insider owned 6,432,258 shares in the company, valued at $810,271,540.26. This trade represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 2.6%

NASDAQ:PLTR opened at $186.96 on Monday. Palantir Technologies Inc. has a 1-year low of $29.10 and a 1-year high of $187.99. The firm has a market capitalization of $441.21 billion, a price-to-earnings ratio of 623.22, a PEG ratio of 10.54 and a beta of 2.60. The business's 50-day moving average price is $145.64 and its two-hundred day moving average price is $116.13.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm earned $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PLTR shares. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada raised their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Bank of America raised their target price on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Company Profile

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.

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