Sanctuary Advisors LLC Has $82.21 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Sanctuary Advisors LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 562,025 shares of the company’s stock after selling 17,894 shares during the period. Sanctuary Advisors LLC’s holdings in Palantir Technologies were worth $82,213,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PLTR. Basepoint Wealth LLC bought a new position in Palantir Technologies in the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted its position in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares during the last quarter. Cornerstone Financial Management LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $31,000. Clayton Financial Group LLC boosted its holdings in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $32,000. Institutional investors own 45.65% of the company’s stock.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the sale, the insider owned 60,226 shares of the company’s stock, valued at approximately $7,757,108.80. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares of the company’s stock, valued at $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last ninety days. Insiders own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Citigroup increased their target price on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Benchmark cut Palantir Technologies to a “hold” rating in a research report on Tuesday, June 16th. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Wednesday, May 6th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a research report on Friday, June 5th. Finally, Oppenheimer started coverage on shares of Palantir Technologies in a research note on Thursday, April 30th. They issued an “outperform” rating and a $200.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.85.

Palantir Technologies Trading Up 2.8%

Shares of NASDAQ:PLTR opened at $133.72 on Wednesday. The firm has a 50 day moving average of $132.36 and a 200-day moving average of $145.19. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The stock has a market capitalization of $320.57 billion, a PE ratio of 150.25, a PEG ratio of 2.08 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, research analysts predict that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.