Kovack Advisors Inc. Has $2.92 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Kovack Advisors Inc. raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,578 shares of the company's stock after purchasing an additional 3,928 shares during the quarter. Kovack Advisors Inc.'s holdings in Palantir Technologies were worth $2,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp bought a new position in Palantir Technologies during the 1st quarter valued at $25,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter valued at $33,000. Cornerstone Planning Group LLC lifted its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after acquiring an additional 185 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $34,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. Wedbush set a $160.00 price objective on Palantir Technologies in a research report on Thursday, July 10th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $95.30.

Insider Activity

In other news, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the sale, the insider directly owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $3.94 during midday trading on Friday, hitting $158.80. 57,707,820 shares of the stock were exchanged, compared to its average volume of 64,807,624. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.39. The business's fifty day simple moving average is $136.44 and its two-hundred day simple moving average is $108.24. The company has a market capitalization of $374.75 billion, a PE ratio of 1,290.50, a P/E/G ratio of 13.22 and a beta of 2.59.

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

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.