Avestar Capital LLC Purchases 3,371 Shares of Palantir Technologies Inc. $PLTR

Avestar Capital LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 13.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 28,352 shares of the company’s stock after acquiring an additional 3,371 shares during the period. Avestar Capital LLC’s holdings in Palantir Technologies were worth $3,865,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PLTR. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. Truist Financial Corp lifted its position in shares of Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after purchasing an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC bought a new stake in Palantir Technologies in the 2nd quarter worth about $204,000. Finally, New Century Financial Group LLC purchased a new stake in Palantir Technologies in the 2nd quarter valued at about $228,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. Jefferies Financial Group restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. UBS Group boosted their price objective on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Northland Securities lifted their target price on Palantir Technologies from $14.00 to $18.50 in a research note on Tuesday, November 4th. Finally, 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 report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.28.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the sale, the insider owned 251,409 shares of the company’s stock, valued at $40,818,765.24. The trade was a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 21,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the completion of the transaction, the director directly owned 59,794 shares of the company’s stock, valued at approximately $9,922,814.30. This trade represents a 25.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,029,844 shares of company stock valued at $168,161,111. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $181.76 on Friday. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The stock’s fifty day moving average price is $178.99 and its two-hundred day moving average price is $161.21. The firm has a market cap of $433.21 billion, a PE ratio of 432.77, a PEG ratio of 6.90 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share 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.