EverSource Wealth Advisors LLC Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

EverSource Wealth Advisors LLC boosted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 44.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 281,322 shares of the company’s stock after purchasing an additional 86,483 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Palantir Technologies were worth $7,565,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. SG Americas Securities LLC grew its stake in Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares during the period. Accel Wealth Management acquired a new position in Palantir Technologies in the 1st quarter valued at $360,000. ProShare Advisors LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $262,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Palantir Technologies by 18.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,200,037 shares of the company’s stock worth $54,945,000 after purchasing an additional 498,957 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.0 %

NYSE:PLTR opened at $37.20 on Friday. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $37.35. The company has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. The business’s 50 day moving average is $30.57 and its two-hundred day moving average is $25.90.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Monness Crespi & Hardt reduced their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Bank of America boosted their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Citigroup raised their target price 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. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $26.79.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,383,238 shares of company stock worth $190,231,672. 12.93% of the stock is currently owned by company insiders.

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.