Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by CoreCap Advisors LLC

CoreCap Advisors LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,963 shares of the company's stock after acquiring an additional 6,506 shares during the quarter. CoreCap Advisors LLC's holdings in Palantir Technologies were worth $3,022,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% during 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 acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% during the 4th 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 purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. FMR LLC lifted its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after buying an additional 2,818,090 shares during the period. Finally, Invesco Ltd. grew its position in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $1.79 during trading hours on Friday, reaching $117.36. 80,786,187 shares of the company were exchanged, compared to its average volume of 75,877,276. The firm has a market cap of $275.25 billion, a PE ratio of 617.72, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 1 year low of $20.50 and a 1 year high of $125.41. The stock's fifty day moving average is $94.23 and its 200 day moving average is $81.99.

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, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the company earned $0.08 EPS. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company'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 value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,978,181 shares of company stock worth $252,115,667 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday. Five investment 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's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.95.

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.