Legacy Financial Advisors Inc. Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Legacy Financial Advisors Inc. purchased a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,612 shares of the company’s stock, valued at approximately $421,000.

A number of other institutional investors also recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth about $25,000. West Paces Advisors Inc. increased its stake in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. Northland Securities began coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. DA Davidson raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.79.

Insider Activity

In related news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now owns 29,817 shares in the company, valued at $834,876. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock valued at $190,231,672 in the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Up 1.0 %

NYSE:PLTR opened at $37.20 on Friday. The company has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. The company has a 50 day simple moving average of $30.57 and a two-hundred day simple moving average of $25.90. Palantir Technologies Inc. has a 12 month low of $13.68 and a 12 month high of $37.35.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. Research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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.