2,854 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Objective Capital Management LLC

Objective Capital Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,854 shares of the company's stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth $1,360,191,000. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. increased its position in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average target price of $83.95.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $0.37 during midday trading on Wednesday, reaching $123.76. 64,203,392 shares of the stock traded hands, compared to its average volume of 78,060,500. Palantir Technologies Inc. has a 12-month low of $20.64 and a 12-month high of $133.49. The business has a 50-day moving average of $104.78 and a two-hundred day moving average of $88.97. The stock has a market capitalization of $290.26 billion, a PE ratio of 651.40, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by company insiders.

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.