Mount Lucas Management LP Acquires New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Mount Lucas Management LP purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,853 shares of the company's stock, valued at approximately $325,000.

Several other institutional investors have also made changes to their positions in PLTR. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% during the 4th 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 period. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC grew its stake in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. grew its stake in 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 buying an additional 3,509,311 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 2.5%

Shares of NASDAQ PLTR traded up $3.94 during trading on Friday, hitting $158.80. The company had a trading volume of 57,707,820 shares, compared to its average volume of 94,045,836. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $160.39. The firm has a market capitalization of $374.75 billion, a price-to-earnings ratio of 690.43, a price-to-earnings-growth ratio of 13.20 and a beta of 2.59. The stock has a fifty day simple moving average of $136.44 and a two-hundred day simple moving average of $108.24.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the prior year, the company earned $0.08 EPS. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Piper Sandler assumed coverage on shares of Palantir Technologies in a research note on Friday. They set an "overweight" rating and a $170.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $95.30.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the transaction, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 over the last quarter. Corporate insiders own 9.23% 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.