Palantir Technologies Inc. (NYSE:PLTR) Shares Acquired by abrdn plc

Posted by on Jul 25th, 2023

abrdn plc raised its position in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 90.3% in the first quarter, HoldingsChannel reports. The firm owned 324,760 shares of the company’s stock after acquiring an additional 154,130 shares during the period. abrdn plc’s holdings in Palantir Technologies were worth $2,744,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Close Asset Management Ltd acquired a new position in shares of Palantir Technologies during the first quarter worth approximately $28,000. Resurgent Financial Advisors LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth $28,000. Romano Brothers AND Company bought a new stake in shares of Palantir Technologies during the fourth quarter valued at about $39,000. Antonetti Capital Management LLC increased its stake in Palantir Technologies by 179.4% during the 1st quarter. Antonetti Capital Management LLC now owns 4,750 shares of the company’s stock valued at $40,000 after buying an additional 3,050 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Palantir Technologies by 54.2% in the 4th quarter. Allworth Financial LP now owns 7,381 shares of the company’s stock worth $47,000 after acquiring an additional 2,594 shares during the period. Institutional investors own 31.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Monday, March 27th. Bank of America upped their price objective on Palantir Technologies from $13.00 to $18.00 and gave the company a “buy” rating in a report on Monday, June 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $6.00 to $7.00 in a report on Tuesday, May 9th. Raymond James downgraded shares of Palantir Technologies from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $15.00 to $18.00 in a report on Tuesday, June 20th. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $8.00 to $14.00 in a research note on Monday, July 17th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $10.04.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 269,510 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $11.76, for a total value of $3,169,437.60. Following the transaction, the insider now owns 1,603,950 shares in the company, valued at approximately $18,862,452. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Palantir Technologies news, insider Shyam Sankar sold 269,510 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $11.76, for a total value of $3,169,437.60. Following the completion of the sale, the insider now directly owns 1,603,950 shares of the company’s stock, valued at $18,862,452. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 18,700 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $10.05, for a total transaction of $187,935.00. Following the transaction, the insider now owns 210,260 shares in the company, valued at approximately $2,113,113. The disclosure for this sale can be found here. Insiders sold 1,959,599 shares of company stock valued at $27,683,472 over the last three months. 13.96% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

PLTR opened at $16.32 on Tuesday. The stock has a fifty day moving average of $14.94 and a 200-day moving average of $10.48. Palantir Technologies Inc. has a 12-month low of $5.84 and a 12-month high of $19.00.

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 (EPS) for the quarter. Palantir Technologies had a negative return on equity of 12.48% and a negative net margin of 12.88%. The firm had revenue of $525.19 million during the quarter, compared to the consensus estimate of $504.84 million. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.05 EPS for the current fiscal year.

About Palantir Technologies

(Free Report)

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

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