Quantinno Capital Management LP Buys 65,105 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Quantinno Capital Management LP increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,803 shares of the company's stock after purchasing an additional 65,105 shares during the quarter. Quantinno Capital Management LP's holdings in Palantir Technologies were worth $13,674,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PLTR. Pathstone Holdings LLC boosted its position in shares of Palantir Technologies by 7.5% during the fourth quarter. Pathstone Holdings LLC now owns 116,853 shares of the company's stock worth $8,838,000 after purchasing an additional 8,146 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in shares of Palantir Technologies during the fourth quarter worth $2,288,000. Nissay Asset Management Corp Japan ADV boosted its position in shares of Palantir Technologies by 90.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 470,929 shares of the company's stock worth $37,241,000 after purchasing an additional 224,200 shares in the last quarter. Nearwater Capital Markets Ltd bought a new position in shares of Palantir Technologies during the fourth quarter worth $28,760,000. Finally, NorthRock Partners LLC bought a new position in shares of Palantir Technologies during the fourth quarter worth $2,035,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PLTR. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Five equities research 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek bought 10,000 shares of the company's stock in a transaction dated 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 directly owns 58,006 shares in the company, 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 2,964,290 shares of company stock valued at $250,504,866 in the last quarter. Company insiders own 12.93% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $130.18 on Thursday. The company has a market cap of $305.32 billion, a PE ratio of 685.19, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The firm has a 50-day moving average of $96.65 and a 200-day moving average of $83.69. Palantir Technologies Inc. has a one year low of $20.63 and a one year high of $133.49.

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

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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