Sequoia Financial Advisors LLC Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Sequoia Financial Advisors LLC grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,724 shares of the company’s stock after buying an additional 29,435 shares during the period. Sequoia Financial Advisors LLC’s holdings in Palantir Technologies were worth $5,332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLTR. West Paces Advisors Inc. lifted its holdings in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. Bogart Wealth LLC raised its position in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after buying an additional 1,065 shares in the last quarter. Halpern Financial Inc. lifted its holdings in shares of Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the last quarter. Finally, Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $27,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLTR. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Monday, May 6th. Argus initiated coverage on Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Citigroup boosted their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Monness Crespi & Hardt lowered Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Friday, June 21st. Finally, HSBC increased their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Up 5.3 %

Shares of NYSE PLTR traded up $1.38 during midday trading on Friday, reaching $27.23. 46,703,729 shares of the stock were exchanged, compared to its average volume of 34,334,692. The firm has a market cap of $60.64 billion, a price-to-earnings ratio of 226.94, a PEG ratio of 5.97 and a beta of 2.71. The firm has a 50-day simple moving average of $23.07 and a two-hundred day simple moving average of $21.77. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $27.50.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the director now owns 32,843 shares in the company, valued at $853,918. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,372,153 shares of company stock worth $239,941,245. 12.93% of the stock is owned by corporate insiders.

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.