Iowa State Bank Takes $2.22 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Iowa State Bank bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,382 shares of the company’s stock, valued at approximately $2,222,000.

A number of other large investors have also added to or reduced their stakes in PLTR. Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management grew its position in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Palantir Technologies in the third quarter worth $639,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 4.6 %

Shares of NASDAQ PLTR traded down $3.69 on Monday, reaching $76.20. 78,855,886 shares of the company’s stock traded hands, compared to its average volume of 69,822,859. The business’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 12 month low of $16.03 and a 12 month high of $84.80. The company has a market cap of $173.59 billion, a price-to-earnings ratio of 381.02, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the company earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,160,723 shares of company stock worth $1,408,158,941 over the last three months. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PLTR has been the subject of several recent analyst reports. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, UBS Group began coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus 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.