Palantir Technologies Inc. (NASDAQ:PLTR) is Empirical Capital Management LLC's 2nd Largest Position

Empirical Capital Management LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,000 shares of the company's stock after selling 118,000 shares during the quarter. Palantir Technologies makes up about 16.3% of Empirical Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Empirical Capital Management LLC's holdings in Palantir Technologies were worth $21,555,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after buying an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies in the 4th quarter worth $31,000. R Squared Ltd purchased a new stake in Palantir Technologies in the 4th quarter worth $33,000. Finally, First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the 4th quarter worth $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PLTR. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Finally, Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Stock Performance

PLTR traded down $0.16 on Thursday, hitting $123.60. 43,082,320 shares of the company were exchanged, compared to its average volume of 77,926,372. The business's fifty day moving average is $104.78 and its 200 day moving average is $88.97. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49. The firm has a market capitalization of $289.89 billion, a P/E ratio of 651.00, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey Buckley sold 1,708 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $215,874.12. Following the sale, the insider now owns 34,468 shares of the company's stock, valued at approximately $4,356,410.52. This trade represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Company 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.