Charles Schwab Investment Management Inc. Increases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 4.4%, bringing its total to 13,614,399 shares valued at approximately $1.15 billion.
• Several analysts have issued varying ratings on Palantir shares, with price targets ranging from $155.00 to $200.00 and a consensus rating of "Hold."
• Palantir Technologies reported earnings of $0.16 per share for the quarter, exceeding expectations, with a revenue increase of 48% year-over-year.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,614,399 shares of the company's stock after acquiring an additional 571,544 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.58% of Palantir Technologies worth $1,149,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. ASR Vermogensbeheer N.V. purchased a new stake in Palantir Technologies in the first quarter worth $15,431,000. Citizens Financial Group Inc. RI grew its stake in Palantir Technologies by 48.6% in the first quarter. Citizens Financial Group Inc. RI now owns 10,786 shares of the company's stock worth $910,000 after purchasing an additional 3,530 shares during the period. Schnieders Capital Management LLC grew its stake in Palantir Technologies by 39.4% in the first quarter. Schnieders Capital Management LLC now owns 4,600 shares of the company's stock worth $388,000 after purchasing an additional 1,300 shares during the period. Strategy Asset Managers LLC grew its stake in Palantir Technologies by 58.4% in the first quarter. Strategy Asset Managers LLC now owns 35,765 shares of the company's stock worth $3,019,000 after purchasing an additional 13,180 shares during the period. Finally, Hemington Wealth Management grew its stake in Palantir Technologies by 19.4% in the first quarter. Hemington Wealth Management now owns 1,076 shares of the company's stock worth $90,000 after purchasing an additional 175 shares during the period. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group reissued a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday. Bank of America increased their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday. Citigroup reissued a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $136.61.

Palantir Technologies Trading Up 2.6%

PLTR traded up $4.76 on Friday, hitting $186.96. 62,386,781 shares of the company's stock traded hands, compared to its average volume of 61,219,692. The company's 50 day simple moving average is $144.43 and its 200-day simple moving average is $114.82. The firm has a market cap of $441.21 billion, a price-to-earnings ratio of 828.18, a P/E/G ratio of 11.57 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $29.10 and a one year high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares in the company, valued at $307,470.60. This trade represents a 81.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the transaction, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 in the last three months. Corporate insiders own 9.23% 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.