Aviance Capital Partners LLC Grows Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Aviance Capital Partners LLC grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 116.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,832 shares of the company's stock after acquiring an additional 10,125 shares during the period. Aviance Capital Partners LLC's holdings in Palantir Technologies were worth $701,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the second quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC boosted its holdings in Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 1.4 %

Shares of PLTR stock traded down $0.87 during trading hours on Wednesday, reaching $62.11. 58,991,743 shares of the company's stock were exchanged, compared to its average volume of 58,816,992. The stock's fifty day moving average price is $44.29 and its two-hundred day moving average price is $32.64. The stock has a market cap of $141.49 billion, a PE ratio of 303.87 and a beta of 2.70. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Palantir Technologies's revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLTR. Bank of America upped their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Royal Bank of Canada reissued an "underperform" rating and issued a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $31.71.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander D. Moore sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares of the company's stock, valued at $46,663,360.70. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,551,467 shares of company stock valued at $1,435,420,536. Company insiders own 12.93% of the company's stock.

Palantir Technologies 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.