Abound Wealth Management Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Abound Wealth Management boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 492.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,256 shares of the company’s stock after acquiring an additional 1,044 shares during the period. Abound Wealth Management’s holdings in Palantir Technologies were worth $95,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Palantir Technologies by 16.6% in the second quarter. LPL Financial LLC now owns 2,524,730 shares of the company’s stock worth $63,951,000 after buying an additional 360,008 shares in the last quarter. BOKF NA boosted its position in shares of Palantir Technologies by 2.3% during the 2nd quarter. BOKF NA now owns 30,739 shares of the company’s stock valued at $779,000 after acquiring an additional 700 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Palantir Technologies by 107.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 478,345 shares of the company’s stock worth $12,164,000 after purchasing an additional 247,681 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Palantir Technologies by 60.4% during the second quarter. Meeder Advisory Services Inc. now owns 31,981 shares of the company’s stock valued at $810,000 after purchasing an additional 12,043 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Palantir Technologies by 0.3% during the second quarter. Federated Hermes Inc. now owns 431,667 shares of the company’s stock valued at $10,934,000 after purchasing an additional 1,321 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PLTR shares. Mizuho increased their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. UBS Group assumed coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $42.12.

Insider Activity

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 4.4 %

PLTR stock traded down $2.98 during trading on Monday, hitting $64.28. 59,290,008 shares of the company’s stock traded hands, compared to its average volume of 79,860,141. The business has a fifty day simple moving average of $68.93 and a two-hundred day simple moving average of $45.98. The firm has a market capitalization of $146.43 billion, a P/E ratio of 321.42, a PEG ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal 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.