Cibc World Market Inc. Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Cibc World Market Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 156.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,084 shares of the company’s stock after purchasing an additional 174,390 shares during the quarter. Cibc World Market Inc.’s holdings in Palantir Technologies were worth $21,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. First PREMIER Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $33,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $82.49 on Friday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $85.22. The firm has a market cap of $187.91 billion, a P/E ratio of 412.47, a P/E/G ratio of 7.29 and a beta of 2.82. The business’s 50 day moving average price is $73.34 and its 200-day moving average price is $50.31.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Robert W. Baird started coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Seven research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.61.

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.