By otakuyassine3@gmail.com 
Cherry Creek Investment Advisors Inc. reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,693 shares of the company’s stock after selling 11,593 shares during the period. Palantir Technologies makes up about 3.0% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 11th biggest holding. Cherry Creek Investment Advisors Inc.’s holdings in Palantir Technologies were worth $6,103,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 60.5% during 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. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $876,000. State of Alaska Department of Revenue raised its holdings in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its stake in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares in the last quarter. Finally, Tyler Stone Wealth Management grew its stake in Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have commented on PLTR shares. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $44.61.
Read Our Latest Stock Analysis on Palantir Technologies
Insider Transactions at Palantir Technologies
In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the firm’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 completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % 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, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 over the last three months. 12.93% of the stock is currently owned by insiders.
Palantir Technologies Trading Down 4.5 %
Palantir Technologies stock opened at $75.43 on Tuesday. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a market capitalization of $171.82 billion, a price-to-earnings ratio of 377.15, a PEG ratio of 7.08 and a beta of 2.82. The stock has a 50 day moving average of $71.96 and a two-hundred day moving average of $49.18.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.
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.
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