Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 58.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 482,700 shares of the company's stock after purchasing an additional 178,038 shares during the period. Fred Alger Management LLC's holdings in Palantir Technologies were worth $36,507,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $347,000. Franklin Resources Inc. lifted its position in Palantir Technologies by 102.3% during the third quarter. Franklin Resources Inc. now owns 171,653 shares of the company's stock worth $6,385,000 after buying an additional 86,793 shares during the period. Principal Financial Group Inc. boosted its stake in Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company's stock worth $105,636,000 after buying an additional 1,969,213 shares during the last quarter. Bank of New Hampshire grew its holdings in Palantir Technologies by 25.9% in the 4th quarter. Bank of New Hampshire now owns 2,015 shares of the company's stock valued at $152,000 after buying an additional 415 shares during the period. Finally, Oriental Harbor Investment Fund acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $33,500,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction 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 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. In the last three months, insiders have sold 2,978,181 shares of company stock worth $252,115,667. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $110.43 on Thursday. Palantir Technologies Inc. has a 12-month low of $20.50 and a 12-month high of $125.41. The firm has a market capitalization of $259.00 billion, a price-to-earnings ratio of 581.24, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The business has a 50 day simple moving average of $92.85 and a 200 day simple moving average of $80.95.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLTR. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday. UBS Group upped their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.70.

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.

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