Clay Northam Wealth Management LLC Acquires 2,095 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Clay Northam Wealth Management LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 25.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,404 shares of the company’s stock after buying an additional 2,095 shares during the period. Clay Northam Wealth Management LLC’s holdings in Palantir Technologies were worth $787,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 1.5 %

Shares of NASDAQ PLTR opened at $83.74 on Tuesday. Palantir Technologies Inc. has a 12 month low of $16.48 and a 12 month high of $85.22. The firm has a market capitalization of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81. The business has a 50-day moving average of $73.71 and a 200-day moving average of $51.00.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business 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%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley restated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Seven 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.61.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,153,753 shares of company stock valued at $1,287,042,675 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Company 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.