Janney Montgomery Scott LLC Has $30.22 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Janney Montgomery Scott LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.4% during the fourth quarter, HoldingsChannel reports. The firm owned 399,631 shares of the company’s stock after selling 31,889 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palantir Technologies were worth $30,224,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Evolution Wealth Advisors LLC boosted its holdings in shares of Palantir Technologies by 40.0% in the 4th quarter. Evolution Wealth Advisors LLC now owns 68,982 shares of the company’s stock valued at $5,217,000 after purchasing an additional 19,715 shares in the last quarter. Magnus Financial Group LLC boosted its holdings in shares of Palantir Technologies by 3.4% during the 4th quarter. Magnus Financial Group LLC now owns 27,981 shares of the company’s stock valued at $2,116,000 after acquiring an additional 915 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 38.1% during the 4th quarter. Daymark Wealth Partners LLC now owns 9,680 shares of the company’s stock valued at $732,000 after acquiring an additional 2,670 shares in the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Global Trust Asset Management LLC now owns 46,526 shares of the company’s stock valued at $3,519,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $362,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLTR. UBS Group began coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley reissued an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Bank of America raised their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Stock Performance

PLTR stock opened at $78.98 on Friday. The stock has a 50-day moving average price of $71.70 and a 200-day moving average price of $48.53. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The firm has a market cap of $179.92 billion, a PE ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company posted $0.03 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,518,855 shares of company stock valued at $1,438,682,423 in the last three months. Corporate insiders own 12.93% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.