abrdn plc Boosts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

abrdn plc boosted its position in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 104.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 659,660 shares of the company's stock after purchasing an additional 336,360 shares during the quarter. abrdn plc's holdings in Palantir Technologies were worth $11,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Alliance LLC boosted its position in Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company's stock valued at $1,044,000 after acquiring an additional 618 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in Palantir Technologies by 2.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company's stock valued at $539,000 after acquiring an additional 675 shares in the last quarter. Truvestments Capital LLC boosted its position in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company's stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. Everhart Financial Group Inc. boosted its position in Palantir Technologies by 6.1% during the 4th quarter. Everhart Financial Group Inc. now owns 12,730 shares of the company's stock valued at $219,000 after acquiring an additional 734 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in Palantir Technologies by 4.3% during the 3rd quarter. Yousif Capital Management LLC now owns 18,227 shares of the company's stock valued at $292,000 after acquiring an additional 750 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 3.7 %

Shares of NYSE PLTR traded up $0.80 during trading on Friday, reaching $22.52. 32,898,213 shares of the company traded hands, compared to its average volume of 62,713,730. The firm's fifty day simple moving average is $23.45 and its 200 day simple moving average is $20.05. The stock has a market cap of $49.82 billion, a P/E ratio of 250.17, a PEG ratio of 5.29 and a beta of 2.78. Palantir Technologies Inc. has a 12-month low of $7.28 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million for the quarter, compared to analysts' expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. As a group, research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at approximately $4,355,040. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the completion of the transaction, the insider now owns 181,460 shares of the company's stock, valued at approximately $4,355,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,456,273 shares of company stock worth $184,343,202. Insiders own 13.96% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several recent research reports. Bank of America increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Citigroup raised Palantir Technologies from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Royal Bank of Canada reissued an "underperform" rating and issued a $5.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 6th. Finally, HSBC cut Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.35.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.