Avestar Capital LLC Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Avestar Capital LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,154 shares of the company’s stock, valued at approximately $303,000.

A number of other institutional investors have also bought and sold shares of PLTR. Advisors Asset Management Inc. increased its holdings in shares of Palantir Technologies by 87.8% during the 1st quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company’s stock worth $316,000 after buying an additional 6,426 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Palantir Technologies by 15.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 15,019 shares of the company’s stock worth $346,000 after buying an additional 2,000 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. Strategic Wealth Partners Ltd. increased its holdings in shares of Palantir Technologies by 92.6% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 19,614 shares of the company’s stock worth $451,000 after buying an additional 9,431 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $1,271,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 0.5 %

Palantir Technologies stock opened at $66.05 on Thursday. The stock has a market cap of $150.46 billion, a P/E ratio of 330.25 and a beta of 2.70. The company has a fifty day simple moving average of $47.68 and a 200-day simple moving average of $34.33. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $67.88.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Wedbush lifted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday. Finally, Bank of America lifted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $35.64.

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 on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,163,181 shares of company stock valued at $1,603,288,758. Insiders own 12.93% of the company’s stock.

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.