J.W. Cole Advisors Inc. Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

J.W. Cole Advisors Inc. raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 73.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 57,037 shares of the company’s stock after purchasing an additional 24,245 shares during the period. J.W. Cole Advisors Inc.’s holdings in Palantir Technologies were worth $1,445,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PLTR. Evolution Wealth Advisors LLC grew its holdings in Palantir Technologies by 0.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after buying an additional 360 shares during the last quarter. First Horizon Advisors Inc. increased its position in Palantir Technologies by 2.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after purchasing an additional 379 shares in the last quarter. Gradient Investments LLC raised its stake in Palantir Technologies by 21.4% in the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after purchasing an additional 406 shares during the last quarter. Apella Capital LLC lifted its holdings in Palantir Technologies by 3.7% in the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after purchasing an additional 416 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock worth $916,000 after buying an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Raymond James lifted their price target on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Argus assumed coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Trading Up 1.9 %

Shares of NYSE PLTR opened at $35.59 on Monday. The stock has a fifty day moving average price of $29.69 and a 200 day moving average price of $25.50. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $36.01. The company has a market cap of $79.26 billion, a P/E ratio of 296.58, a P/E/G ratio of 6.15 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares of the company’s stock, valued at approximately $853,918. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The disclosure for this sale can be found here. Insiders have sold 880,238 shares of company stock valued at $27,776,572 in the last quarter. Company insiders own 12.93% of the company’s stock.

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.