Numerai GP LLC Lowers Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Numerai GP LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,694 shares of the company's stock after selling 4,121 shares during the period. Numerai GP LLC's holdings in Palantir Technologies were worth $733,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. boosted its position in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $3,233,000. Grange Capital LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $5,829,000. Finally, Lake Street Private Wealth LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $527,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $130.18 on Thursday. The firm has a market cap of $305.32 billion, a P/E ratio of 685.19, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 1 year low of $20.63 and a 1 year high of $133.49. The firm's 50 day moving average price is $96.65 and its 200 day moving average price is $83.69.

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 (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Heather A. Planishek purchased 10,000 shares of the stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the transaction, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. The trade was a 20.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,964,290 shares of company stock valued at $250,504,866. Insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Loop Capital raised their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. UBS Group lifted their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.

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