AM Investment Strategies LLC Takes $262,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

AM Investment Strategies LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,464 shares of the company’s stock, valued at approximately $262,000.

Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Palantir Technologies by 10.7% during the second 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 in the last quarter. XTX Topco Ltd bought a new position in Palantir Technologies in the 2nd quarter valued at $330,000. Thrivent Financial for Lutherans grew its stake in shares of Palantir Technologies by 20.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after acquiring an additional 9,109 shares during the period. ProShare Advisors LLC lifted its holdings in Palantir Technologies by 14.9% during the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Palantir Technologies by 95.6% in the 2nd quarter. Fred Alger Management LLC now owns 120,153 shares of the company’s stock valued at $3,043,000 after acquiring an additional 58,724 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the transaction, the director now owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 in the last 90 days. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market cap of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. The company has a 50 day moving average of $71.96 and a 200-day moving average of $48.89.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the business posted $0.03 EPS. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird initiated coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. UBS Group assumed coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $44.61.

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.