Iowa State Bank Purchases Shares of 29,382 Palantir Technologies Inc. (NASDAQ:PLTR)

Iowa State Bank purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 29,382 shares of the company’s stock, valued at approximately $2,222,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. State Street Corp boosted its position 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 valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC lifted its position in Palantir Technologies by 3,476.2% during the third 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. grew 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 in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $3.69 during trading on Monday, reaching $76.20. 78,855,886 shares of the company’s stock traded hands, compared to its average volume of 69,822,859. The company’s 50 day simple moving average is $66.28 and its two-hundred day simple moving average is $44.38. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The firm has a market cap of $173.59 billion, a price-to-earnings ratio of 381.02, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company 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 was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. Research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares of the company’s stock, valued at $6,071,545.60. This represents a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,160,723 shares of company stock worth $1,408,158,941 in the last three months. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on PLTR. UBS Group started coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Northland Securities raised their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.12.

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.