Siemens Fonds Invest GmbH Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Siemens Fonds Invest GmbH lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 115.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,791 shares of the company's stock after buying an additional 25,074 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Palantir Technologies were worth $3,611,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock valued at $370,407,533 in the last 90 days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $1.44 during trading on Thursday, reaching $122.32. 62,834,015 shares of the company were exchanged, compared to its average volume of 78,000,639. The stock's 50 day simple moving average is $104.78 and its two-hundred day simple moving average is $88.97. The company has a market capitalization of $286.88 billion, a P/E ratio of 643.82, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.64 and a 52-week high of $133.49.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PLTR. Daiwa Capital Markets began coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Loop Capital increased their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $83.95.

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.