Gateway Investment Advisers LLC Boosts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Gateway Investment Advisers LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1,861.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 363,704 shares of the company's stock after purchasing an additional 345,161 shares during the period. Gateway Investment Advisers LLC's holdings in Palantir Technologies were worth $30,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC lifted its stake in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its holdings in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. increased its position in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $127.72 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The firm has a 50-day simple moving average of $110.01 and a 200-day simple moving average of $92.16. The company has a market capitalization of $301.41 billion, a price-to-earnings ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group upped their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley increased their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock valued at $369,820,528 over the last quarter. Corporate 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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