Avestar Capital LLC Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Avestar Capital LLC bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,154 shares of the company’s stock, valued at approximately $303,000.

A number of other hedge funds also recently bought and sold shares of the stock. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC increased its position in shares of Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares in the last quarter. Quantum Private Wealth LLC increased its position in shares of Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after purchasing an additional 250 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Palantir Technologies by 2.4% during the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after purchasing an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc increased its position in shares of Palantir Technologies by 0.9% during the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. Wedbush upped their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $35.64.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,163,181 shares of company stock valued at $1,603,288,758 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 0.5 %

PLTR stock opened at $66.05 on Thursday. The company’s 50-day simple moving average is $47.68 and its 200-day simple moving average is $34.33. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $67.88. The firm has a market cap of $150.46 billion, a P/E ratio of 330.25 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.