Kovack Advisors Inc. Has $1.58 Million Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Kovack Advisors Inc. reduced its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 29.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,458 shares of the company’s stock after selling 17,994 shares during the period. Kovack Advisors Inc.’s holdings in Palantir Technologies were worth $1,579,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its stake in Palantir Technologies by 9.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock valued at $619,000 after acquiring an additional 2,427 shares during the period. Empowered Funds LLC raised its stake in shares of Palantir Technologies by 32.0% in the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after purchasing an additional 6,002 shares in the last quarter. Sei Investments Co. lifted its position in Palantir Technologies by 20.1% in the first quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock worth $6,895,000 after purchasing an additional 50,159 shares during the period. Russell Investments Group Ltd. increased its holdings in Palantir Technologies by 6.7% in the 1st quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock valued at $9,300,000 after buying an additional 25,258 shares during the period. Finally, US Bancorp DE raised its stake in shares of Palantir Technologies by 15.9% in the 1st quarter. US Bancorp DE now owns 198,930 shares of the company’s stock valued at $4,577,000 after buying an additional 27,322 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of the transaction, the director now directly owns 121,390 shares in the company, valued at approximately $7,047,903.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Heather A. Planishek sold 11,373 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total transaction of $366,779.25. Following the completion of the sale, the insider now directly owns 600,633 shares in the company, valued at approximately $19,370,414.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,399,238 shares of company stock valued at $1,041,851,557. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $3.11 during trading hours on Wednesday, hitting $62.96. The company’s stock had a trading volume of 34,847,246 shares, compared to its average volume of 57,705,605. The company has a market capitalization of $141.00 billion, a PE ratio of 314.82 and a beta of 2.70. The stock has a 50 day moving average of $41.30 and a 200 day moving average of $31.25. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $63.39.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Equities analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Monness Crespi & Hardt dropped their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Wedbush increased their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Citigroup upped their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Company 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.