Diversified Investment Strategies LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Diversified Investment Strategies LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,200 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds have also bought and sold shares of the business. State Street Corp grew its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of 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 acquiring an additional 808,444 shares during the last quarter. FMR LLC increased its holdings in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 4,667,955 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. UBS Group assumed coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Finally, Mizuho lifted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $78.72 on Wednesday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm has a 50-day simple moving average of $72.59 and a two-hundred day simple moving average of $49.89. The company has a market cap of $179.33 billion, a P/E ratio of 396.68, a PEG ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies 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 transaction of $823,158.38. Following the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares in the company, 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 20,181,807 shares of company stock worth $1,288,448,522 in the last three months. Corporate insiders own 12.93% of the company’s stock.

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.