Palantir Technologies Inc. (NYSE:PLTR) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 60.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,387,040 shares of the company's stock after purchasing an additional 4,667,955 shares during the period. Charles Schwab Investment Management Inc. owned 0.55% of Palantir Technologies worth $460,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC raised its holdings in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock worth $35,000 after purchasing an additional 1,105 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLTR shares. Royal Bank of Canada reiterated an "underperform" rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Jefferies Financial Group cut Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Finally, Wedbush boosted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $31.71.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of Palantir Technologies stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,547,056 shares of company stock valued at $1,500,642,721 over the last quarter. Company insiders own 12.93% of the company's stock.

Palantir Technologies Stock Up 4.1 %

Shares of PLTR traded up $2.49 during trading hours on Friday, reaching $63.85. 44,930,621 shares of the company traded hands, compared to its average volume of 58,746,504. The stock has a market capitalization of $145.45 billion, a PE ratio of 320.22 and a beta of 2.70. The stock has a fifty day simple moving average of $45.36 and a 200 day simple moving average of $33.04. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its quarterly 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 business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company's quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. Research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.