Kovack Advisors Inc. Acquires 11,003 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Kovack Advisors Inc. increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,900 shares of the company’s stock after purchasing an additional 11,003 shares during the period. Kovack Advisors Inc.’s holdings in Palantir Technologies were worth $1,183,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC increased its position in Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $27,000. GAMMA Investing LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $33,000. Provence Wealth Management Group purchased a new stake in shares of Palantir Technologies during the third quarter valued at $34,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in shares of Palantir Technologies during the third quarter valued at $35,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.7 %

Palantir Technologies stock traded up $0.81 during mid-day trading on Friday, hitting $22.52. The company had a trading volume of 33,119,766 shares, compared to its average volume of 33,231,036. Palantir Technologies Inc. has a 12-month low of $7.28 and a 12-month high of $27.50. The company’s fifty day moving average is $23.45 and its 200-day moving average is $20.05. The company has a market capitalization of $49.83 billion, a price-to-earnings ratio of 250.19, a P/E/G ratio of 5.32 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. Mizuho upped their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Bank of America upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Wednesday, February 14th. Finally, Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.35.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock worth $184,343,202 in the last quarter. Corporate insiders own 13.96% of the company’s stock.

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.