Cascade Investment Group Inc. Purchases Shares of 6,900 Palantir Technologies Inc. (NYSE:PLTR)

Cascade Investment Group Inc. purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,900 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. 1832 Asset Management L.P. lifted its stake in Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after buying an additional 3,623,840 shares during the period. Marshall Wace LLP raised its position in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the period. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Palantir Technologies by 2,722.2% during the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after purchasing an additional 1,655,997 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTR has been the topic of a number of research reports. Northland Securities assumed coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price on the stock. Bank of America increased their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group increased their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Performance

Shares of PLTR opened at $42.44 on Wednesday. The stock’s 50-day simple moving average is $34.78 and its 200 day simple moving average is $27.72. The stock has a market capitalization of $94.51 billion, a price-to-earnings ratio of 353.67 and a beta of 2.72. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $44.39.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,837,176 shares of company stock valued at $649,593,747 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.