Hodges Capital Management Inc. Invests $16.56 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Hodges Capital Management Inc. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 218,902 shares of the company's stock, valued at approximately $16,556,000. Palantir Technologies makes up approximately 1.0% of Hodges Capital Management Inc.'s portfolio, making the stock its 28th biggest position.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% during 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 during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at $3,233,000. State of Alaska Department of Revenue boosted its stake in Palantir Technologies by 22.9% during 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 acquiring an additional 68,945 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock worth $20,146,000 after acquiring an additional 87,062 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $9.92 during mid-day trading on Thursday, reaching $111.28. The company had a trading volume of 127,117,705 shares, compared to its average volume of 81,224,656. The company has a market capitalization of $253.50 billion, a price-to-earnings ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. The stock has a fifty day moving average of $75.56 and a two-hundred day moving average of $52.26. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $111.55.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company's revenue was up 30.0% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLTR shares. UBS Group increased their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research report on Tuesday. Baird R W raised Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $69.44.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company's stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,665,547 shares of company stock worth $1,040,620,099. Corporate insiders own 12.93% 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.