EMC Capital Management Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

EMC Capital Management lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 74.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,325 shares of the company’s stock after purchasing an additional 4,846 shares during the quarter. Palantir Technologies comprises 0.5% of EMC Capital Management’s portfolio, making the stock its 12th biggest holding. EMC Capital Management’s holdings in Palantir Technologies were worth $857,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in Palantir Technologies by 20.9% in the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after purchasing an additional 9,109 shares during the period. ProShare Advisors LLC increased its stake in Palantir Technologies by 14.9% in the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after buying an additional 1,702 shares during the period. Quarry LP lifted its holdings in Palantir Technologies by 193.1% during the 2nd quarter. Quarry LP now owns 4,200 shares of the company’s stock valued at $106,000 after buying an additional 2,767 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Palantir Technologies by 20.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 17,132 shares of the company’s stock valued at $434,000 after buying an additional 2,896 shares during the period. Finally, Truist Financial Corp grew its stake in Palantir Technologies by 21.5% in the 2nd quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock worth $11,382,000 after acquiring an additional 79,618 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group assumed coverage on Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Wedbush boosted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.61.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the transaction, the director now directly owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on 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 completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 0.6 %

Shares of PLTR opened at $80.27 on Thursday. The company has a market capitalization of $182.85 billion, a price-to-earnings ratio of 400.82, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The stock’s 50-day moving average price is $72.94 and its 200-day moving average price is $50.10.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the company earned $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.