Berbice Capital Management LLC Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Berbice Capital Management LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,350 shares of the company’s stock, valued at approximately $102,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% during the third 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 raised its stake in shares of Palantir Technologies by 52.9% in 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. Sumitomo Mitsui Trust Group Inc. raised 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 valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC raised its stake in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.1 %

Palantir Technologies stock opened at $80.68 on Friday. The business’s 50-day simple moving average is $71.70 and its 200 day simple moving average is $48.53. The stock has a market cap of $183.78 billion, a price-to-earnings ratio of 402.31, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PLTR has been the subject of a number of recent research reports. DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird initiated coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Wedbush upped their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Mizuho upped their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.61.

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.