Empirical Capital Management LLC Sells 118,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Empirical Capital Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.3% during the 4th quarter, according to 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 accounts for about 16.3% of Empirical Capital Management LLC's holdings, making the stock its 2nd biggest position. Empirical Capital Management LLC's holdings in Palantir Technologies were worth $21,555,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. Mather Group LLC. lifted its position in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after buying an additional 448 shares during the period. Destiny Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $3,233,000. Grange Capital LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $5,829,000. American Institute for Advanced Investment Management LLP acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $246,000. Finally, Sage Advisors LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth $369,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLTR shares. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Mizuho boosted their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $83.95.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95% 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 valued at $370,407,533. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 0.1%

PLTR traded up $0.08 during midday trading on Tuesday, hitting $123.39. 86,177,009 shares of the company traded hands, compared to its average volume of 77,906,130. Palantir Technologies Inc. has a 52 week low of $20.64 and a 52 week high of $133.49. The firm has a market capitalization of $289.39 billion, a PE ratio of 649.46, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company's 50-day moving average is $103.41 and its 200 day moving average is $88.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies's quarterly 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. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.