Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 68,900 shares of the company’s stock after acquiring an additional 11,003 shares during the period. Kovack Advisors Inc.’s holdings in Palantir Technologies were worth $1,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. DAVENPORT & Co LLC grew its stake in shares of Palantir Technologies by 8.3% in the third quarter. DAVENPORT & Co LLC now owns 55,852 shares of the company’s stock valued at $894,000 after buying an additional 4,300 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at about $246,000. Exchange Traded Concepts LLC grew its stake in shares of Palantir Technologies by 6.5% in the third quarter. Exchange Traded Concepts LLC now owns 111,810 shares of the company’s stock valued at $1,789,000 after buying an additional 6,871 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Palantir Technologies by 0.3% in the third quarter. Handelsbanken Fonder AB now owns 381,075 shares of the company’s stock valued at $6,097,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Palantir Technologies by 25.8% in the third quarter. Valeo Financial Advisors LLC now owns 30,696 shares of the company’s stock valued at $491,000 after purchasing an additional 6,295 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the sale, the director now directly owns 191,783 shares in the company, valued at approximately $4,777,314.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Heather A. Planishek sold 8,521 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the sale, the insider now directly owns 703,485 shares in the company, valued at approximately $16,370,095.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the sale, the director now owns 191,783 shares in the company, valued at $4,777,314.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. Insiders own 13.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush reissued an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Raymond James increased their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Bank of America increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Wednesday, February 14th. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

Shares of NYSE PLTR traded up $0.81 during mid-day trading on Friday, hitting $22.52. The company had a trading volume of 33,119,766 shares, compared to its average volume of 33,231,036. The stock has a market cap of $49.83 billion, a price-to-earnings ratio of 250.19, a PEG ratio of 5.32 and a beta of 2.78. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50. The firm’s 50 day simple moving average is $23.45 and its two-hundred day simple moving average is $20.05.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Palantir Technologies Profile

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.