Exchange Traded Concepts LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Exchange Traded Concepts LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,773 shares of the company’s stock after purchasing an additional 20,184 shares during the period. Exchange Traded Concepts LLC’s holdings in Palantir Technologies were worth $10,193,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after buying an additional 278,544 shares during the period. XTX Topco Ltd bought a new position in shares of Palantir Technologies during the 2nd quarter worth $330,000. Thrivent Financial for Lutherans increased its stake in shares of Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after buying an additional 9,109 shares during the period. ProShare Advisors LLC raised its holdings in shares of Palantir Technologies by 14.9% in the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after acquiring an additional 1,702 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Palantir Technologies by 63.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 364,167 shares of the company’s stock worth $9,224,000 after acquiring an additional 141,800 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Up 2.1 %

Palantir Technologies stock opened at $80.62 on Friday. The stock has a 50-day moving average price of $71.70 and a 200 day moving average price of $48.53. The company has a market capitalization of $183.65 billion, a price-to-earnings ratio of 404.30, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America boosted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Northland Securities boosted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird began coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $44.61.

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.