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Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Steward Partners Investment Advisory LLC

Palantir Technologies logo with Computer and Technology background

Key Points

  • Steward Partners Investment Advisory LLC has significantly increased its holdings in Palantir Technologies, acquiring an additional 208,252 shares, bringing their total ownership to 410,694 shares valued at approximately $34.7 million.
  • Analyst reports show a range of price targets for Palantir's stock, with Bank of America raising its target to $180 and several others maintaining ratings with targets between $155 and $200.
  • Insider trading has seen significant activity, with insiders selling over 1.5 million shares worth nearly $200 million in recent months, which represents a notable decrease in their ownership stakes.
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Steward Partners Investment Advisory LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 102.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 410,694 shares of the company's stock after acquiring an additional 208,252 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Palantir Technologies were worth $34,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allegiance Financial Group Advisory Services LLC increased its stake in shares of Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the period. Sovran Advisors LLC increased its stake in shares of Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC increased its stake in shares of Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the period. Continuum Advisory LLC increased its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the period. Finally, Kathmere Capital Management LLC increased its stake in shares of Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several analyst reports. Bank of America raised their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two research 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 stock has an average rating of "Hold" and a consensus price target of $136.61.

Check Out Our Latest Research Report on Palantir Technologies

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the sale, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. This trade represents a 5.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,515,632 shares of company stock worth $196,472,623. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $177.17 on Friday. The company has a 50 day moving average price of $151.03 and a 200 day moving average price of $119.48. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The firm has a market capitalization of $418.11 billion, a price-to-earnings ratio of 590.59, a P/E/G ratio of 9.99 and a beta of 2.60.

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

About Palantir Technologies

(Free Report)

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

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.

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