Avantax Advisory Services Inc. Grows Position in Palantir Technologies Inc. $PLTR

Avantax Advisory Services Inc. increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 23.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 398,700 shares of the company’s stock after buying an additional 74,611 shares during the period. Avantax Advisory Services Inc.’s holdings in Palantir Technologies were worth $54,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter worth $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter worth $27,000. Briaud Financial Planning Inc bought a new stake in Palantir Technologies during the second quarter valued at $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in Palantir Technologies during the second quarter worth about $27,000. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the transaction, the insider owned 592 shares in the company, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 375,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at $106,261,243.20. This represents a 34.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PLTR shares. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Citigroup lifted their target price on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. DA Davidson boosted their price target on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler upped their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Up 1.1%

Shares of PLTR opened at $174.01 on Friday. The stock has a market capitalization of $414.74 billion, a P/E ratio of 414.32, a PEG ratio of 6.75 and a beta of 2.63. Palantir Technologies Inc. has a twelve month low of $58.85 and a twelve month high of $207.52. The firm has a fifty day simple moving average of $180.47 and a two-hundred day simple moving average of $156.63.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $0.10 EPS. Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.