Certified Advisory Corp Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Certified Advisory Corp purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,719 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. State Street Corp raised its position in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its stake 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 purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC lifted its stake in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLTR. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Jefferies Financial Group cut 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. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $71.77 on Friday. The company has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The business has a fifty day simple moving average of $70.22 and a two-hundred day simple moving average of $46.85. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

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.