Foundations Investment Advisors LLC Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Foundations Investment Advisors LLC increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 131.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,051 shares of the company’s stock after acquiring an additional 36,991 shares during the period. Foundations Investment Advisors LLC’s holdings in Palantir Technologies were worth $1,648,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. First United Bank & Trust bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $26,000. West Paces Advisors Inc. raised its holdings in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the period. Finally, Bogart Wealth LLC grew its holdings in Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Shares of PLTR opened at $30.17 on Friday. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $33.13. The company has a market capitalization of $67.19 billion, a P/E ratio of 251.42, a P/E/G ratio of 5.55 and a beta of 2.72. The firm’s 50 day simple moving average is $28.71 and its 200 day simple moving average is $25.04.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share 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 analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider David A. Glazer sold 90,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $24,352,627.10. The disclosure for this sale can be found here. In the last three months, insiders sold 722,664 shares of company stock worth $22,008,889. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research reports. DA Davidson boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Argus assumed coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Northland Securities started coverage on Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

Palantir Technologies 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.