Sequoia Financial Advisors LLC Has $7.41 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Sequoia Financial Advisors LLC increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 26.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,471 shares of the company’s stock after acquiring an additional 60,747 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Palantir Technologies were worth $7,408,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. West Paces Advisors Inc. increased its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. Bogart Wealth LLC lifted its holdings 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 during the last quarter. Halpern Financial Inc. grew its position in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $22.94, for a total transaction of $468,480.68. Following the sale, the director now owns 1,587,707 shares in the company, valued at approximately $36,421,998.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the sale, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $22.94, for a total transaction of $468,480.68. Following the completion of the transaction, the director now owns 1,587,707 shares of the company’s stock, valued at $36,421,998.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,396 shares of company stock worth $4,389,707. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. DA Davidson lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, Raymond James increased their target price on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $23.14.

Palantir Technologies Stock Performance

PLTR stock traded up $1.08 during mid-day trading on Tuesday, hitting $30.46. 29,056,018 shares of the company were exchanged, compared to its average volume of 55,561,988. The firm has a market cap of $67.83 billion, a P/E ratio of 253.58, a P/E/G ratio of 6.14 and a beta of 2.71. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $31.20. The firm’s 50 day simple moving average is $26.13 and its 200 day simple moving average is $23.78.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 9.24% and a net margin of 16.32%. The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the prior year, the firm earned $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

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.