Cvfg LLC Takes $383,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cvfg LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,067 shares of the company’s stock, valued at approximately $383,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings 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 grew its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC raised its holdings in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $69.34 on Friday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The company has a 50 day simple moving average of $69.95 and a 200 day simple moving average of $46.69. The firm has a market cap of $157.95 billion, a PE ratio of 346.70, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued 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 for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. Wedbush boosted their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.12.

Insider Activity

In related news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction that occurred 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 directly owns 6,432,258 shares in the company, valued at $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

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.