Secure Asset Management LLC Invests $511,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Secure Asset Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,752 shares of the company’s stock, valued at approximately $511,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PLTR. State Street Corp increased its position in 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 purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its holdings 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 buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares in the last quarter. FMR LLC lifted its holdings in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $78.98 on Friday. The firm’s fifty day moving average is $71.70 and its two-hundred day moving average is $48.53. The firm has a market cap of $179.92 billion, a price-to-earnings ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued 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 firm 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 company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLTR. UBS Group started coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Bank of America increased their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Wedbush lifted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.61.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

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.