Garden State Investment Advisory Services LLC Increases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Garden State Investment Advisory Services LLC raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 34.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,193 shares of the company’s stock after acquiring an additional 12,916 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Palantir Technologies were worth $1,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth about $25,000. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Palantir Technologies by 105.3% during the 1st 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 in the last quarter. Finally, Bogart Wealth LLC increased its position in shares of 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 buying an additional 1,065 shares during the period. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares in the company, valued at $834,876. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,383,238 shares of company stock valued at $190,231,672. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.0 %

Shares of NYSE PLTR opened at $37.20 on Friday. The firm has a market cap of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. The company has a 50 day moving average of $30.57 and a 200 day moving average of $25.90. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $37.35.

Palantir Technologies (NYSE:PLTR) last released 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 firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on PLTR shares. Bank of America raised their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Northland Securities assumed coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Finally, DA Davidson lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.79.

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.