Fortem Financial Group LLC Has $5.71 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Fortem Financial Group LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,430 shares of the company’s stock after buying an additional 710 shares during the quarter. Palantir Technologies accounts for approximately 2.2% of Fortem Financial Group LLC’s holdings, making the stock its 9th biggest position. Fortem Financial Group LLC’s holdings in Palantir Technologies were worth $5,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC lifted its holdings in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 4.7 %

PLTR traded down $3.72 during trading on Monday, hitting $76.17. 96,896,282 shares of the company traded hands, compared to its average volume of 76,330,094. The company has a market cap of $173.52 billion, a PE ratio of 380.87, a P/E/G ratio of 10.18 and a beta of 2.82. The stock’s 50-day simple moving average is $66.28 and its two-hundred day simple moving average is $44.38. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. This trade represents a 99.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,160,723 shares of company stock valued at $1,408,158,941 in the last quarter. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. Mizuho increased their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wedbush upped their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. UBS Group assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Finally, Robert W. Baird assumed coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.12.

About Palantir Technologies

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.