Kestra Advisory Services LLC Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Kestra Advisory Services LLC boosted its stake in Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 26.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 160,396 shares of the company’s stock after acquiring an additional 33,604 shares during the period. Kestra Advisory Services LLC’s holdings in Palantir Technologies were worth $1,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB purchased a new stake in Palantir Technologies in the 2nd quarter valued at about $1,610,000. Commerce Bank increased its stake in Palantir Technologies by 329.8% during the second quarter. Commerce Bank now owns 53,678 shares of the company’s stock worth $487,000 after purchasing an additional 41,188 shares during the period. Legal & General Group Plc increased its stake in Palantir Technologies by 8.7% during the second quarter. Legal & General Group Plc now owns 10,031,568 shares of the company’s stock worth $90,985,000 after purchasing an additional 801,826 shares during the period. Xponance Inc. increased its stake in Palantir Technologies by 10.4% during the second quarter. Xponance Inc. now owns 211,092 shares of the company’s stock worth $1,915,000 after purchasing an additional 19,934 shares during the period. Finally, PDT Partners LLC purchased a new stake in Palantir Technologies during the second quarter worth about $755,000. 31.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Alexander C. Karp sold 809,398 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $7.00, for a total value of $5,665,786.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $45,025,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $6.38, for a total transaction of $44,660.00. Following the completion of the sale, the director now owns 213,830 shares in the company, valued at $1,364,235.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 809,398 shares of the company’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $7.00, for a total value of $5,665,786.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $45,025,806. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,085,739 shares of company stock valued at $7,651,502. 13.22% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 5.1 %

Shares of PLTR opened at $7.38 on Tuesday. The stock has a 50 day moving average price of $6.97 and a 200 day moving average price of $8.02. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of -26.36 and a beta of 2.88. Palantir Technologies Inc. has a 52-week low of $5.92 and a 52-week high of $14.86.

Palantir Technologies (NYSE:PLTRGet Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $477.88 million during the quarter, compared to analyst estimates of $474.58 million. Palantir Technologies had a negative net margin of 30.64% and a negative return on equity of 8.86%. On average, equities analysts anticipate that Palantir Technologies Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of Palantir Technologies from $6.00 to $5.00 and set an “underperform” rating on the stock in a research note on Monday, November 7th. Citigroup cut their price target on shares of Palantir Technologies from $6.00 to $5.00 and set a “sell” rating on the stock in a research note on Friday, November 11th. Raymond James cut their price target on shares of Palantir Technologies from $20.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 8th. Morgan Stanley lowered their price objective on Palantir Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, December 19th. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $9.00 to $7.50 in a research report on Thursday, January 5th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.77.

About Palantir Technologies

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.

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Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NYSE:PLTRGet Rating).

Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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