Cache Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cache Advisors LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 107,755 shares of the company’s stock, valued at approximately $8,150,000. Palantir Technologies makes up 3.1% of Cache Advisors LLC’s holdings, making the stock its 10th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its stake in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC boosted its holdings in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. grew its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $123.31 on Friday. The firm has a market capitalization of $289.21 billion, a price-to-earnings ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company has a 50 day simple moving average of $102.66 and a 200-day simple moving average of $87.59. Palantir Technologies Inc. has a 52-week low of $20.64 and a 52-week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLTR. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. UBS Group boosted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.95.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 3,936 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the sale, the insider now directly owns 363,755 shares of the company’s stock, valued at approximately $45,822,217.35. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,931,701 shares of company stock valued at $373,180,433. 9.23% of the stock is owned by insiders.

Palantir Technologies Company 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.