Ground Swell Capital LLC Acquires Shares of 5,168 Palantir Technologies Inc. (NASDAQ:PLTR)

Ground Swell Capital LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,168 shares of the company's stock, valued at approximately $391,000. Palantir Technologies accounts for 0.6% of Ground Swell Capital LLC's holdings, making the stock its 27th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC lifted its holdings in 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. Northern Trust Corp raised its holdings in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth $1,360,191,000. FMR LLC boosted 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 worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Palantir Technologies by 31.2% in 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 during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 8.1%

NASDAQ PLTR traded up $9.64 during trading hours on Tuesday, hitting $128.10. The company had a trading volume of 145,862,614 shares, compared to its average volume of 76,295,553. Palantir Technologies Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $130.55. The firm has a market cap of $300.44 billion, a P/E ratio of 674.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The business has a fifty day simple moving average of $94.80 and a 200-day simple moving average of $83.05.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $863.89 million. During the same period last year, the firm posted $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital upped their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Northland Securities lifted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. 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's stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus price target of $83.95.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were 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 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 2,964,290 shares of company stock worth $250,504,866 over the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Company 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.