Sanctuary Advisors LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 562,025 shares of the company’s stock after selling 17,894 shares during the quarter. Sanctuary Advisors LLC’s holdings in Palantir Technologies were worth $82,213,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PLTR. Beaumont Financial Advisors LLC lifted its stake in shares of Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock worth $527,000 after acquiring an additional 59 shares during the period. Transcend Capital Advisors LLC increased its position in Palantir Technologies by 0.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after purchasing an additional 60 shares during the period. Sandbox Financial Partners LLC raised its holdings in Palantir Technologies by 1.3% during the 4th quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock worth $873,000 after purchasing an additional 61 shares during the last quarter. San Luis Wealth Advisors LLC raised its holdings in Palantir Technologies by 1.6% during the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock worth $726,000 after purchasing an additional 63 shares during the last quarter. Finally, Monument Capital Management lifted its position in shares of Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock worth $949,000 after purchasing an additional 63 shares during the period. Institutional investors own 45.65% of the company’s stock.
Palantir Technologies Stock Up 2.8%
Shares of NASDAQ:PLTR opened at $133.72 on Wednesday. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The stock’s 50 day moving average is $132.36 and its 200-day moving average is $145.19. The firm has a market capitalization of $320.57 billion, a price-to-earnings ratio of 150.25, a PEG ratio of 2.08 and a beta of 1.56.
Wall Street Analyst Weigh In
PLTR has been the subject of several recent analyst reports. DA Davidson upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $175.00 in a research report on Thursday, July 2nd. President Capital raised shares of Palantir Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.50 to $133.00 in a research report on Monday, June 29th. BNP Paribas Exane started coverage on Palantir Technologies in a report on Tuesday, June 16th. They set an “underperform” rating for the company. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada reissued an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.85.
Check Out Our Latest Stock Report on PLTR
Trending Headlines about Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
- Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
- Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock
Insider Buying and Selling
In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares of the company’s stock, valued at approximately $7,757,108.80. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the completion of the sale, the director owned 55,022 shares of the company’s stock, valued at approximately $8,803,520. This trade represents a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,112,270 shares of company stock valued at $150,247,785 over the last 90 days. 9.53% of the stock is currently owned by company insiders.
Palantir Technologies Company Profile
Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.
Palantir’s product portfolio centers on a small number of core platforms.
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