Empowered Funds LLC Purchases 11,874 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Empowered Funds LLC grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,969 shares of the company’s stock after purchasing an additional 11,874 shares during the period. Empowered Funds LLC’s holdings in Palantir Technologies were worth $6,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Mather Group LLC. grew its position in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in Palantir Technologies in the 4th quarter worth $876,000. Destiny Wealth Partners LLC bought a new stake in Palantir Technologies in the fourth quarter worth $3,233,000. Finally, State of Alaska Department of Revenue boosted its position in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Mizuho increased their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada upped their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.44.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $116.65 on Tuesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $116.76. The firm has a market cap of $265.73 billion, a price-to-earnings ratio of 613.98, a PEG ratio of 11.44 and a beta of 2.81. The company has a 50-day moving average of $77.34 and a 200 day moving average of $53.60.

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.