Janney Montgomery Scott LLC Has $33.26 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Janney Montgomery Scott LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 394,055 shares of the company's stock after selling 5,576 shares during the quarter. Janney Montgomery Scott LLC's holdings in Palantir Technologies were worth $33,258,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PLTR. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Northern Trust Corp increased its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the period. Norges Bank bought a new position in Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC lifted its holdings in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after buying an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $141.41 on Tuesday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $144.86. The business has a fifty day moving average of $116.76 and a two-hundred day moving average of $95.53. The stock has a market cap of $333.72 billion, a PE ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the firm posted $0.08 EPS. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $86.30.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider now owns 592 shares of the company's stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,925 shares of company stock worth $188,456,658. Insiders own 9.23% of the company's stock.

Palantir Technologies 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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