Benjamin F. Edwards & Company Inc. decreased its position in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 11.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,769 shares of the company’s stock after selling 2,450 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Palantir Technologies were worth $167,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Simplicity Solutions LLC lifted its stake in shares of Palantir Technologies by 509.2% in the 1st quarter. Simplicity Solutions LLC now owns 69,871 shares of the company’s stock valued at $590,000 after purchasing an additional 58,402 shares during the period. Arizona State Retirement System lifted its stake in shares of Palantir Technologies by 7.5% in the 1st quarter. Arizona State Retirement System now owns 489,119 shares of the company’s stock valued at $4,133,000 after purchasing an additional 34,298 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Palantir Technologies by 61.7% in the 1st quarter. DAVENPORT & Co LLC now owns 54,488 shares of the company’s stock valued at $460,000 after purchasing an additional 20,800 shares during the period. Oak Thistle LLC lifted its stake in shares of Palantir Technologies by 90.6% in the 1st quarter. Oak Thistle LLC now owns 42,366 shares of the company’s stock valued at $358,000 after purchasing an additional 20,138 shares during the period. Finally, Caprock Group LLC lifted its stake in shares of Palantir Technologies by 3.3% in the 1st quarter. Caprock Group LLC now owns 279,574 shares of the company’s stock valued at $2,362,000 after purchasing an additional 9,010 shares during the period. Institutional investors and hedge funds own 31.57% of the company’s stock.
Analyst Upgrades and Downgrades
PLTR has been the topic of a number of analyst reports. Mizuho increased their price target on Palantir Technologies from $8.00 to $14.00 in a research note on Monday. Bank of America upped their price objective on shares of Palantir Technologies from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, June 12th. Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. Raymond James cut shares of Palantir Technologies from a “strong-buy” rating to an “outperform” rating and upped their price objective for the company from $15.00 to $18.00 in a research report on Tuesday, June 20th. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.04.
Palantir Technologies Price Performance
Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $504.84 million. Palantir Technologies had a negative return on equity of 12.48% and a negative net margin of 12.88%. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.05 EPS for the current year.
Insider Activity
In other news, Director Alexander D. Moore sold 21,900 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $7.74, for a total value of $169,506.00. Following the completion of the transaction, the director now owns 1,858,152 shares in the company, valued at approximately $14,382,096.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Alexander D. Moore sold 21,900 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $7.74, for a total value of $169,506.00. Following the completion of the sale, the director now directly owns 1,858,152 shares in the company, valued at approximately $14,382,096.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,595 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $16.38, for a total transaction of $58,886.10. Following the sale, the director now owns 68,669 shares of the company’s stock, valued at $1,124,798.22. The disclosure for this sale can be found here. Insiders sold 1,959,599 shares of company stock worth $27,683,472 in the last quarter. Corporate insiders own 13.96% of the company’s stock.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
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