Coastal Investment Advisors Inc. Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)


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Coastal Investment Advisors Inc. purchased a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,563 shares of the company’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Jacobi Capital Management LLC acquired a new stake in Palantir Technologies in the third quarter worth about $28,000. Covington Capital Management purchased a new position in shares of Palantir Technologies in the third quarter worth about $29,000. D Orazio & Associates Inc. purchased a new position in shares of Palantir Technologies in the third quarter worth about $36,000. IFP Advisors Inc purchased a new position in shares of Palantir Technologies in the third quarter worth about $36,000. Finally, Edge Wealth Management LLC purchased a new position in shares of Palantir Technologies in the third quarter worth about $38,000.

PLTR has been the subject of several research analyst reports. Smith Barney Citigroup cut Palantir Technologies from a “neutral” rating to a “sell” rating in a research note on Wednesday. Credit Suisse Group cut Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $13.00 to $17.00 in a research report on Friday, December 18th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut Palantir Technologies from a “neutral” rating to a “sell” rating and lifted their price target for the company from $10.00 to $15.00 in a research report on Wednesday. The Goldman Sachs Group assumed coverage on Palantir Technologies in a research report on Monday, October 26th. They set a “neutral” rating and a $10.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $15.00 in a research report on Friday, November 13th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Palantir Technologies has an average rating of “Hold” and a consensus price target of $16.29.

Shares of NYSE:PLTR opened at $25.50 on Thursday. The stock has a 50 day moving average price of $26.11. Palantir Technologies Inc. has a 1 year low of $8.90 and a 1 year high of $33.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Thursday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The firm had revenue of $289.37 million during the quarter, compared to analyst estimates of $279.32 million. The business’s revenue was up 51.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) earnings per share.

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 533,000 shares of the business’s stock in a transaction on Thursday, November 19th. The stock was sold at an average price of $18.55, for a total transaction of $9,887,150.00. Following the transaction, the insider now owns 203,647 shares of the company’s stock, valued at $3,777,651.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 180,000 shares of the business’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $18.01, for a total value of $3,241,800.00. Following the transaction, the insider now directly owns 3,302,779 shares in the company, valued at approximately $59,483,049.79. The disclosure for this sale can be found here. Insiders have sold 3,703,544 shares of company stock worth $81,261,633 in the last three months.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. It offers Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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