Sandy Cove Advisors LLC Has $2.07 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Sandy Cove Advisors LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,322 shares of the company’s stock after purchasing an additional 1,132 shares during the period. Palantir Technologies accounts for approximately 0.8% of Sandy Cove Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Sandy Cove Advisors LLC’s holdings in Palantir Technologies were worth $2,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd acquired a new position in Palantir Technologies in the second quarter valued at approximately $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 3.7 %

Shares of NASDAQ PLTR opened at $71.77 on Friday. The firm has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The stock’s 50-day simple moving average is $70.49 and its two-hundred day simple moving average is $47.17. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (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 quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue was up 30.0% compared to the same quarter last year. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PLTR shares. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wedbush lifted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.78.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % 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, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Insiders own 12.93% of the company’s stock.

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.