Strathmore Capital Advisors Inc. Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Strathmore Capital Advisors Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,000 shares of the company’s stock, valued at approximately $832,000. Palantir Technologies accounts for 0.6% of Strathmore Capital Advisors Inc.’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its position in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased 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 valued at $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC raised its position 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 worth $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Wedbush raised their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Price Performance

PLTR stock traded down $5.99 during mid-day trading on Tuesday, reaching $69.93. 76,389,903 shares of the company’s stock were exchanged, compared to its average volume of 77,880,094. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The stock’s 50 day moving average is $66.90 and its 200 day moving average is $44.73. The company has a market cap of $159.30 billion, a price-to-earnings ratio of 349.67, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82.

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

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now owns 138,304 shares in the company, valued at $6,071,545.60. The trade was a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,645,510 shares of company stock worth $1,444,267,325. Insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.