Sheaff Brock Investment Advisors LLC Buys 5,252 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Sheaff Brock Investment Advisors LLC increased its position in Palantir Technologies by 35.6%, acquiring an additional 5,252 shares, bringing its total holdings to 20,021 shares, valued at approximately $1.69 million.
• Palantir Technologies reported earnings of $0.13 per share for the last quarter, exceeding analyst expectations, with revenue reaching $883.86 million, up 39.4% year-over-year.
• Institutional investors own 45.65% of Palantir Technologies' stock, with notable increases in holdings from firms such as Geode Capital Management and Northern Trust Corp.

Sheaff Brock Investment Advisors LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 20,021 shares of the company's stock after buying an additional 5,252 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Palantir Technologies were worth $1,690,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its holdings 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 in the last quarter. FMR LLC increased its holdings in Palantir Technologies by 22.6% in the 4th 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 in the last quarter. Invesco Ltd. increased its holdings in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Palantir Technologies by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after buying an additional 187,860 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $158.80 on Monday. The stock has a market capitalization of $374.75 billion, a P/E ratio of 690.43, a price-to-earnings-growth ratio of 13.54 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.39. The business has a fifty day moving average price of $137.03 and a 200 day moving average price of $109.42.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLTR. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Morgan Stanley raised their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Wedbush set a $160.00 target price on Palantir Technologies in a research report on Thursday, July 10th. Finally, Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $95.30.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the company'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 transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company'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 $39,142,477.44. Following the transaction, the insider directly owned 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. Corporate insiders own 12.93% 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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