Aviance Capital Partners LLC Invests $317,000 in Palantir Technologies Inc. (NYSE:PLTR)

Aviance Capital Partners LLC bought a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the first quarter, Holdings Channel reports. The fund bought 13,758 shares of the company’s stock, valued at approximately $317,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after purchasing an additional 18,756,392 shares in the last quarter. Morgan Stanley grew its holdings in shares of Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its stake in Palantir Technologies by 314.7% in the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after buying an additional 4,011,100 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Palantir Technologies by 1,784.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after buying an additional 2,742,071 shares in the last quarter. Finally, Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $46,542,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Heather A. Planishek sold 2,398 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the transaction, the director now owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,372,153 shares of company stock valued at $239,941,245. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLTR shares. DA Davidson boosted their price objective on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Citigroup lifted their price objective on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, May 7th. Royal Bank of Canada increased their price objective on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Finally, Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Friday, June 21st. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.25.

Palantir Technologies Stock Performance

NYSE:PLTR traded down $0.12 during mid-day trading on Monday, hitting $25.21. 8,089,894 shares of the company’s stock traded hands, compared to its average volume of 56,405,246. The company has a fifty day moving average of $22.63 and a 200 day moving average of $21.54. The company has a market capitalization of $56.14 billion, a P/E ratio of 211.10, a P/E/G ratio of 5.85 and a beta of 2.71. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. On average, research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

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.