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

Cache Advisors LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 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 investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC boosted its stake 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 buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp raised its holdings in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at $1,360,191,000. FMR LLC boosted its stake in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,931,701 shares of company stock worth $373,180,433. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Up 0.8%

PLTR stock opened at $123.31 on Friday. The stock has a market cap of $289.21 billion, a PE ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The firm’s 50-day simple moving average is $102.66 and its 200 day simple moving average is $87.59. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49.

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

Analyst Ratings Changes

PLTR has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. UBS Group upped their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Mizuho boosted their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.95.

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.