Palantir Technologies Inc. (NASDAQ:PLTR) Stake Trimmed by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,325 shares of the company's stock after selling 47,312 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Palantir Technologies were worth $9,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. grew its position in 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 acquired a new stake in Palantir Technologies during the 4th quarter worth about $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $3,233,000. Kieckhefer Group LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $11,769,000. Finally, Grange Capital LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $5,829,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

PLTR stock opened at $118.46 on Tuesday. The stock has a market capitalization of $277.83 billion, a price-to-earnings ratio of 623.51, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company has a 50-day moving average of $94.80 and a two-hundred day moving average of $83.05. Palantir Technologies Inc. has a 52-week low of $20.60 and a 52-week high of $125.41.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,964,290 shares of company stock valued at $250,504,866 in the last ninety days. Company insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several research reports. UBS Group upped their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho increased their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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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