Newbridge Financial Services Group Inc. Boosts Stock Holdings in Palantir Technologies Inc. $PLTR

by · The Cerbat Gem

Newbridge Financial Services Group Inc. increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 36.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,208 shares of the company’s stock after purchasing an additional 30,533 shares during the period. Palantir Technologies makes up 2.5% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 6th largest position. Newbridge Financial Services Group Inc.’s holdings in Palantir Technologies were worth $15,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PLTR. Cape Investment Advisory Inc. boosted its position in shares of Palantir Technologies by 14.4% during the second quarter. Cape Investment Advisory Inc. now owns 788 shares of the company’s stock worth $107,000 after buying an additional 99 shares during the period. Advisory Services Network LLC lifted its stake in Palantir Technologies by 8.2% in the 2nd quarter. Advisory Services Network LLC now owns 283,720 shares of the company’s stock valued at $38,677,000 after acquiring an additional 21,506 shares in the last quarter. Anchor Investment Management LLC boosted its position in Palantir Technologies by 1,296.9% during the 2nd quarter. Anchor Investment Management LLC now owns 6,691 shares of the company’s stock worth $912,000 after acquiring an additional 6,212 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $29,000. Finally, Hohimer Wealth Management LLC grew its stake in shares of Palantir Technologies by 5.9% during the 2nd quarter. Hohimer Wealth Management LLC now owns 6,603 shares of the company’s stock worth $900,000 after acquiring an additional 370 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 39,136 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $6,115,000.00. Following the transaction, the insider owned 592 shares in the company, valued at approximately $92,500. This represents a 98.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 19,004 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $2,969,375.00. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. This represents a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,008,844 shares of company stock worth $164,676,161. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $183.57 on Friday. The stock has a 50-day simple moving average of $179.31 and a 200 day simple moving average of $163.62. The stock has a market capitalization of $437.53 billion, a P/E ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.49. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business’s revenue was up 62.8% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent research reports. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Piper Sandler boosted their price target on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Bank of America raised their price objective on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Northland Securities upped their target price on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Finally, Daiwa Capital Markets raised their price target on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $172.28.

Check Out Our Latest Research Report on Palantir Technologies

Palantir Technologies Profile

(Free Report)

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.

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