Oak Ridge Investments LLC Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Oak Ridge Investments LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,658 shares of the company’s stock after acquiring an additional 1,008 shares during the quarter. Oak Ridge Investments LLC’s holdings in Palantir Technologies were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PLTR. State Street Corp boosted its holdings in 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 purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 16,598,253 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 3,476.2% during 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 buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLTR. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group initiated coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a research note on Friday. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.78.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 3.7 %

Shares of PLTR stock opened at $71.77 on Monday. The company’s fifty day simple moving average is $70.49 and its two-hundred day simple moving average is $47.32. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The stock has a market cap of $163.49 billion, a P/E ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.03 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.