Cadinha & Co. LLC Purchases 77,988 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Cadinha & Co. LLC raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 282.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,633 shares of the company’s stock after buying an additional 77,988 shares during the period. Palantir Technologies comprises 0.7% of Cadinha & Co. LLC’s portfolio, making the stock its 26th largest holding. Cadinha & Co. LLC’s holdings in Palantir Technologies were worth $3,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 0.8 %

Shares of NYSE:PLTR traded down $0.36 during midday trading on Thursday, reaching $42.77. The company had a trading volume of 18,884,629 shares, compared to its average volume of 57,167,625. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $43.34. The stock has a market cap of $95.24 billion, a PE ratio of 359.42 and a beta of 2.72. The business’s 50 day moving average price is $33.35 and its 200 day moving average price is $27.16.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was up 27.2% on a year-over-year basis. On average, research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Argus began coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. DA Davidson raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $27.29.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,831,855 shares of company stock worth $649,330,295 over the last ninety days. 12.93% of the stock is owned by insiders.

Palantir Technologies Profile

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.