Cadinha & Co. LLC Buys 124,131 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Cadinha & Co. LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 117.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,764 shares of the company’s stock after buying an additional 124,131 shares during the period. Palantir Technologies accounts for approximately 2.9% of Cadinha & Co. LLC’s portfolio, making the stock its 19th largest holding. Cadinha & Co. LLC’s holdings in Palantir Technologies were worth $17,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after acquiring an additional 278,544 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at about $350,000. Wealth Alliance purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at about $247,000. Mercer Global Advisors Inc. ADV lifted its position in Palantir Technologies by 18.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock worth $4,728,000 after buying an additional 30,030 shares during the last quarter. Finally, Amalgamated Bank grew its position in Palantir Technologies by 5.0% during the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock valued at $3,444,000 after acquiring an additional 6,472 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

PLTR opened at $71.77 on Friday. The firm has a market cap of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The stock has a 50-day moving average price of $70.49 and a 200-day moving average price of $47.17. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Company Profile

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.