Global Retirement Partners LLC lessened its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,009 shares of the company’s stock after selling 1,572 shares during the period. Global Retirement Partners LLC’s holdings in Palantir Technologies were worth $61,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commerce Bank grew its stake in shares of Palantir Technologies by 7.8% in the first quarter. Commerce Bank now owns 96,261 shares of the company’s stock worth $813,000 after acquiring an additional 6,964 shares during the last quarter. abrdn plc grew its stake in shares of Palantir Technologies by 90.3% in the first quarter. abrdn plc now owns 324,760 shares of the company’s stock worth $2,744,000 after acquiring an additional 154,130 shares during the last quarter. WBH Advisory Inc. acquired a new stake in shares of Palantir Technologies in the first quarter worth $315,000. Franklin Resources Inc. grew its stake in shares of Palantir Technologies by 17.6% in the fourth quarter. Franklin Resources Inc. now owns 68,985 shares of the company’s stock worth $443,000 after acquiring an additional 10,343 shares during the last quarter. Finally, Kovack Advisors Inc. grew its stake in shares of Palantir Technologies by 107.2% in the fourth quarter. Kovack Advisors Inc. now owns 48,911 shares of the company’s stock worth $314,000 after acquiring an additional 25,305 shares during the last quarter. Institutional investors and hedge funds own 31.57% of the company’s stock.
Analyst Upgrades and Downgrades
PLTR has been the subject of several research reports. Bank of America raised their target price on Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, June 12th. Jefferies Financial Group raised their target price on Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. DA Davidson raised their target price on Palantir Technologies from $8.50 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $7.00 to $9.00 in a research report on Tuesday, August 8th. Finally, Wolfe Research raised their target price on Palantir Technologies from $6.00 to $7.50 and gave the stock an “underperform” rating in a research report on Tuesday, August 8th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.96.
Palantir Technologies Price Performance
Palantir Technologies stock opened at $15.41 on Monday. The stock has a 50-day simple moving average of $16.24 and a 200 day simple moving average of $11.51. Palantir Technologies Inc. has a 12-month low of $5.84 and a 12-month high of $20.24. The stock has a market capitalization of $32.63 billion, a price-to-earnings ratio of -513.67, a P/E/G ratio of 4.04 and a beta of 2.73.
Insider Buying and Selling
In related news, Director Lauren Elaina Friedman Stat sold 3,595 shares of Palantir Technologies stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $16.38, for a total value of $58,886.10. Following the completion of the sale, the director now directly owns 68,669 shares in the company, valued at $1,124,798.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Shyam Sankar sold 1,967,500 shares of Palantir Technologies stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $20.00, for a total transaction of $39,350,000.00. Following the transaction, the insider now owns 1,313,446 shares in the company, valued at approximately $26,268,920. The transaction 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 Palantir Technologies stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $16.38, for a total value of $58,886.10. Following the transaction, the director now owns 68,669 shares in the company, valued at approximately $1,124,798.22. The disclosure for this sale can be found here. Insiders sold a total of 3,907,899 shares of company stock worth $67,105,527 over the last three months. 13.96% of the stock is currently owned by company insiders.
Palantir Technologies Company Profile
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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