Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 682.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,906,008 shares of the company's stock after purchasing an additional 2,534,660 shares during the period. ProShare Advisors LLC owned approximately 0.13% of Palantir Technologies worth $219,781,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Investment Advisors LLC boosted its stake in shares of Palantir Technologies by 18.4% in the fourth quarter. Capital Investment Advisors LLC now owns 16,263 shares of the company's stock worth $1,230,000 after buying an additional 2,526 shares during the last quarter. Cooper Financial Group purchased a new position in Palantir Technologies during the fourth quarter worth approximately $206,000. Pallas Capital Advisors LLC boosted its position in Palantir Technologies by 50.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 8,040 shares of the company's stock worth $608,000 after purchasing an additional 2,698 shares in the last quarter. Marcum Wealth LLC purchased a new position in Palantir Technologies during the fourth quarter worth approximately $229,000. Finally, PSI Advisors LLC boosted its position in Palantir Technologies by 99.7% during the fourth quarter. PSI Advisors LLC now owns 795 shares of the company's stock worth $60,000 after purchasing an additional 397 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the sale, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $64,958,509.98. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek acquired 10,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the purchase, the insider now directly owns 58,006 shares of the company's stock, valued at approximately $6,736,816.84. This represents a 20.83% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,964,290 shares of company stock valued at $250,504,866 over the last quarter. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Up 1.6%

PLTR stock opened at $130.18 on Thursday. The business has a fifty day moving average of $96.65 and a two-hundred day moving average of $83.69. The stock has a market cap of $305.32 billion, a price-to-earnings ratio of 685.19, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.63 and a 52-week high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during 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 firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. UBS Group increased their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $83.95.

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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