abrdn plc Boosts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

abrdn plc grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 104.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 659,660 shares of the company’s stock after purchasing an additional 336,360 shares during the period. abrdn plc’s holdings in Palantir Technologies were worth $11,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PLTR. Fiduciary Alliance LLC boosted its holdings in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Palantir Technologies by 2.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock worth $539,000 after purchasing an additional 675 shares during the last quarter. Truvestments Capital LLC boosted its holdings in Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in Palantir Technologies by 6.1% in the fourth quarter. Everhart Financial Group Inc. now owns 12,730 shares of the company’s stock worth $219,000 after purchasing an additional 734 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Palantir Technologies by 4.3% in the third quarter. Yousif Capital Management LLC now owns 18,227 shares of the company’s stock worth $292,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the sale, the director now directly owns 191,783 shares in the company, valued at approximately $4,777,314.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.68, for a total transaction of $142,080.00. Following the completion of the transaction, the director now directly owns 175,830 shares of the company’s stock, valued at $4,163,654.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Insiders own 13.96% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Mizuho increased their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Raymond James increased their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $21.71 on Friday. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 241.25, a PEG ratio of 5.29 and a beta of 2.78. The company’s fifty day moving average price is $23.49 and its 200-day moving average price is $20.01. Palantir Technologies Inc. has a one year low of $7.28 and a one year high of $27.50.

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

Palantir Technologies Company 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.