Foster Victor Wealth Advisors LLC Increases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Foster Victor Wealth Advisors LLC boosted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 272,682 shares of the company’s stock after acquiring an additional 46,878 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Palantir Technologies were worth $6,907,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pursue Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $1,741,000. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. SG Americas Securities LLC increased its holdings in shares of Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after purchasing an additional 102,479 shares during the period. Accel Wealth Management acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $360,000. Finally, Panagora Asset Management Inc. increased its holdings in shares of Palantir Technologies by 185.6% in the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after purchasing an additional 49,839 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.8 %

NYSE:PLTR traded up $0.86 during trading hours on Friday, reaching $32.08. 64,870,638 shares of the stock were exchanged, compared to its average volume of 55,685,449. The firm has a 50 day simple moving average of $26.78 and a 200-day simple moving average of $24.14. The stock has a market capitalization of $71.44 billion, a P/E ratio of 267.33, a P/E/G ratio of 5.29 and a beta of 2.71. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $32.75.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the prior year, the firm earned $0.01 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. Insiders sold a total of 506,580 shares of company stock valued at $14,748,074 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Argus started 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. Monness Crespi & Hardt decreased their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Friday, August 2nd. Finally, Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $23.14.

About Palantir Technologies

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.