J.W. Cole Advisors Inc. Has $2.20 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

J.W. Cole Advisors Inc. boosted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,119 shares of the company’s stock after purchasing an additional 2,082 shares during the period. J.W. Cole Advisors Inc.’s holdings in Palantir Technologies were worth $2,199,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLTR. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the second quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies during the 2nd quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 3.0 %

Shares of PLTR opened at $44.86 on Monday. The stock has a 50 day simple moving average of $36.86 and a 200-day simple moving average of $28.86. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $45.07. The stock has a market cap of $99.90 billion, a PE ratio of 373.83 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. DA Davidson boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Bank of America boosted their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wedbush raised their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.86.

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.