Cache Advisors LLC Purchases Shares of 107,755 Palantir Technologies Inc. (NASDAQ:PLTR)

Cache Advisors LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 107,755 shares of the company's stock, valued at approximately $8,150,000. Palantir Technologies accounts for about 3.1% of Cache Advisors LLC's holdings, making the stock its 10th largest holding.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its stake in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank bought a new position in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. FMR LLC grew its stake in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Citigroup raised their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Mizuho raised their price objective on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $83.95.

Insider Activity

In related news, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, the director now owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,901,701 shares of company stock worth $370,407,533. Insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 0.1%

NASDAQ PLTR traded up $0.08 during midday trading on Tuesday, hitting $123.39. The company had a trading volume of 85,941,731 shares, compared to its average volume of 77,904,496. The company has a market capitalization of $289.39 billion, a PE ratio of 649.46, a P/E/G ratio of 10.84 and a beta of 2.68. The firm has a 50-day moving average price of $103.41 and a 200-day moving average price of $88.49. Palantir Technologies Inc. has a twelve month low of $20.64 and a twelve month high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm earned $0.08 EPS. The company's quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.