Advisory Services Network LLC Acquires 21,506 Shares of Palantir Technologies Inc. $PLTR

Advisory Services Network LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,720 shares of the company’s stock after acquiring an additional 21,506 shares during the period. Palantir Technologies accounts for about 0.6% of Advisory Services Network LLC’s portfolio, making the stock its 15th biggest holding. Advisory Services Network LLC’s holdings in Palantir Technologies were worth $38,677,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PLTR. Accuvest Global Advisors lifted its holdings in shares of Palantir Technologies by 0.7% in the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after buying an additional 63 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Palantir Technologies by 0.4% in the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after buying an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. boosted its stake in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after buying an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after acquiring an additional 73 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its stake in Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Palantir Technologies in a report on Monday, December 8th. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Piper Sandler lifted their price target on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, HSBC upped their price objective on Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Stock Down 2.1%

PLTR stock opened at $183.57 on Friday. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52. The firm has a market cap of $437.53 billion, a price-to-earnings ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.49. The business’s fifty day simple moving average is $179.31 and its two-hundred day simple moving average is $163.62.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 149,872 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the transaction, the insider directly owned 642,786 shares in the company, valued at $105,410,476.14. This represents a 18.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,008,844 shares of company stock worth $164,676,161 over the last three months. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Profile

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.