PCA Investment Advisory Services Inc. Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

PCA Investment Advisory Services Inc. purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,173 shares of the company’s stock, valued at approximately $391,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the last quarter. FMR LLC boosted its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley restated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Trading Down 3.4 %

Shares of Palantir Technologies stock opened at $64.98 on Tuesday. The business has a fifty day simple moving average of $69.40 and a two-hundred day simple moving average of $46.26. The firm has a market capitalization of $148.03 billion, a P/E ratio of 324.92, a P/E/G ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies 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.