Cavalier Investments LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cavalier Investments LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, Holdings Channel.com reports. The institutional investor bought 43,801 shares of the company’s stock, valued at approximately $3,697,000. Palantir Technologies makes up about 1.3% of Cavalier Investments LLC’s investment portfolio, making the stock its 23rd biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth $1,360,191,000. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $253,816,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho increased their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a report on Wednesday, June 11th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $89.32.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $144.25 on Friday. The stock has a market cap of $340.42 billion, a PE ratio of 627.17, a price-to-earnings-growth ratio of 12.20 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The stock’s 50-day moving average is $124.50 and its two-hundred day moving average is $99.02.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. Insiders own 9.23% of the company’s stock.

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.