Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,174 shares of the company's stock after selling 87,785 shares during the quarter. Gotham Asset Management LLC's holdings in Palantir Technologies were worth $18,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% during the fourth 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 during the period. Northern Trust Corp increased its stake in shares of Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $1,360,191,000. FMR LLC grew its holdings in shares of Palantir Technologies by 22.6% during the fourth 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 during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 31.2% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their price target 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. Loop Capital raised their target price 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. Finally, The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Price Performance

PLTR traded up $1.16 on Monday, reaching $118.46. 93,955,705 shares of the stock were exchanged, compared to its average volume of 76,014,922. The company's 50-day moving average price is $94.23 and its 200 day moving average price is $82.54. The firm has a market capitalization of $277.83 billion, a PE ratio of 623.51, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $125.41.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, 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 transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock valued at $252,115,667 over the last ninety days. 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.