EMC Capital Management Buys 4,846 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

EMC Capital Management lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 74.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,325 shares of the company's stock after purchasing an additional 4,846 shares during the quarter. Palantir Technologies makes up 0.5% of EMC Capital Management's investment portfolio, making the stock its 12th biggest holding. EMC Capital Management's holdings in Palantir Technologies were worth $857,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLTR. State Street Corp lifted its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its holdings in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC raised its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 60.5% in the third 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. Finally, Lord Abbett & CO. LLC lifted its stake in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company's stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company's stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLTR. UBS Group initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a "neutral" rating and a $80.00 target price for the company. Cantor Fitzgerald assumed coverage on Palantir Technologies in a research report on Friday, January 17th. They issued a "neutral" rating and a $72.00 price objective for the company. Argus downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $44.61.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $1.46 during midday trading on Thursday, reaching $81.22. 45,914,038 shares of the company's stock were exchanged, compared to its average volume of 68,165,070. The stock's 50-day simple moving average is $72.94 and its 200 day simple moving average is $50.10. The firm has a market cap of $185.02 billion, a price-to-earnings ratio of 406.12, a P/E/G 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 - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same period last year, the firm posted $0.03 EPS. The firm's revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.2 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.