Geode Capital Management LLC Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Geode Capital Management LLC lifted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 52.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 47,946,926 shares of the company’s stock after buying an additional 16,598,253 shares during the period. Geode Capital Management LLC’s holdings in Palantir Technologies were worth $1,777,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the second quarter worth $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NYSE PLTR opened at $70.89 on Wednesday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $80.91. The company has a market capitalization of $161.49 billion, a price-to-earnings ratio of 354.45, a price-to-earnings-growth ratio of 10.29 and a beta of 2.87. The company’s fifty day moving average price is $52.96 and its two-hundred day moving average price is $37.16.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,407,852 shares of company stock worth $1,972,536,217 in the last ninety days. 12.93% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PLTR shares. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform 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.