Mutual Advisors LLC Acquires 11,710 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Mutual Advisors LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 22.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,108 shares of the company’s stock after purchasing an additional 11,710 shares during the period. Mutual Advisors LLC’s holdings in Palantir Technologies were worth $4,370,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLTR. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC lifted its stake in 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 valued at $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The business’s 50-day moving average is $71.30 and its 200-day moving average is $48.32. The company has a market capitalization of $179.92 billion, a price-to-earnings ratio of 394.92, a P/E/G ratio of 6.73 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling

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 transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,518,855 shares of company stock valued at $1,438,682,423 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLTR. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Bank of America boosted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Mizuho upped their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.61.

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.