CacheTech Inc. Takes $347,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

CacheTech Inc. purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, HoldingsChannel reports. The firm purchased 9,338 shares of the company’s stock, valued at approximately $347,000.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter valued at $30,000. Finally, Beacon Capital Management LLC grew its holdings in shares of Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Northland Securities started coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target on the stock. Monness Crespi & Hardt dropped their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $27.86.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated 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 transaction, the director now owns 152,280 shares in the company, valued at $5,535,378. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the transaction, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,204,508 shares of company stock worth $802,654,666. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 0.9 %

Shares of PLTR stock opened at $41.94 on Friday. The firm has a market cap of $93.92 billion, a P/E ratio of 246.72 and a beta of 2.72. The company has a 50 day moving average of $37.98 and a 200-day moving average of $29.50. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $45.14.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current 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.