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

Janney Montgomery Scott LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,631 shares of the company’s stock after selling 31,889 shares during the period. Janney Montgomery Scott LLC’s holdings in Palantir Technologies were worth $30,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd acquired a new position in Palantir Technologies during the second quarter valued at approximately $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on PLTR shares. Cantor Fitzgerald started coverage on Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target for the company. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.61.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. This represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $78.98 on Friday. The firm has a market cap of $179.92 billion, a P/E ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The business’s 50 day moving average is $71.70 and its 200-day moving average is $48.53.

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

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.