GAMMA Investing LLC Has $1.91 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

GAMMA Investing LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 76.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,653 shares of the company's stock after buying an additional 9,810 shares during the quarter. GAMMA Investing LLC's holdings in Palantir Technologies were worth $1,912,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pitcairn Co. purchased a new position in Palantir Technologies during the fourth quarter worth about $281,000. KLP Kapitalforvaltning AS purchased a new position in Palantir Technologies during the fourth quarter worth about $52,033,000. Mirador Capital Partners LP boosted its holdings in Palantir Technologies by 36.0% during the first quarter. Mirador Capital Partners LP now owns 13,968 shares of the company's stock worth $1,179,000 after purchasing an additional 3,696 shares during the last quarter. Columbia Asset Management purchased a new position in Palantir Technologies during the fourth quarter worth about $216,000. Finally, HMV Wealth Advisors LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $221,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 9.4%

NASDAQ PLTR opened at $130.74 on Friday. The company's 50 day moving average is $125.24 and its 200-day moving average is $99.62. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The firm has a market cap of $308.53 billion, a P/E ratio of 568.43, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLTR shares. DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $89.32.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider now directly owns 592 shares in the company, valued at $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last quarter. Company insiders own 9.23% of the company's stock.

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.

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