Capital Market Strategies LLC Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Capital Market Strategies LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 51,645 shares of the company’s stock after purchasing an additional 3,941 shares during the period. Palantir Technologies makes up approximately 2.2% of Capital Market Strategies LLC’s portfolio, making the stock its 6th biggest holding. Capital Market Strategies LLC’s holdings in Palantir Technologies were worth $3,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 60.5% in 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 period. State of Alaska Department of Revenue grew its holdings in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management boosted its stake in Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies in the third quarter worth approximately $639,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 5.0 %

Shares of PLTR traded down $3.98 during midday trading on Monday, hitting $75.91. 72,556,123 shares of the company’s stock traded hands, compared to its average volume of 66,206,813. The stock has a market capitalization of $172.92 billion, a price-to-earnings ratio of 379.57, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The firm’s fifty day moving average is $66.28 and its 200-day moving average is $44.38. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year 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. The business 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 business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. The trade was a 99.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,160,723 shares of company stock valued at $1,408,158,941. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on PLTR. Wedbush increased their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Bank of America lifted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.12.

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.