Stance Capital LLC Buys New Holdings in Palantir Technologies Inc. $PLTR

Stance Capital LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,901 shares of the company’s stock, valued at approximately $1,895,000.

Several other institutional investors also recently bought and sold shares of the business. Accuvest Global Advisors lifted its stake in Palantir Technologies by 0.7% in the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock valued at $1,232,000 after buying an additional 63 shares in the last quarter. Ignite Planners LLC increased its position in shares of Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after purchasing an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. raised its stake in Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after purchasing an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after purchasing an additional 73 shares in the last quarter. Finally, Boomfish Wealth Group LLC boosted its stake in Palantir Technologies by 2.7% during the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after purchasing an additional 73 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 359,325 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $58,925,706.75. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $1,054,825,989.42. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 308,635 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the transaction, the insider owned 592 shares in the company, valued at $97,082.08. The trade was a 99.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,008,844 shares of company stock worth $164,676,161 in the last 90 days. Corporate insiders own 9.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Morgan Stanley increased their price target on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Mizuho raised their target price on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Citigroup boosted their price objective on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Stock Performance

Shares of PLTR opened at $183.57 on Friday. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52. The firm has a 50-day simple moving average of $179.31 and a 200-day simple moving average of $163.62. The company has a market capitalization of $437.53 billion, a price-to-earnings ratio of 437.08, a price-to-earnings-growth ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.