Gateway Investment Advisers LLC Takes $1.40 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Gateway Investment Advisers LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,543 shares of the company's stock, valued at approximately $1,402,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Palantir Technologies by 96.4% in the third 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 last quarter. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% during the third 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 during the last quarter. International Assets Investment Management LLC raised its stake in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company's stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 3.7 %

Shares of Palantir Technologies stock traded up $2.53 during trading on Friday, reaching $71.77. The company's stock had a trading volume of 54,590,923 shares, compared to its average volume of 79,745,712. The firm has a market cap of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The company has a 50-day moving average price of $70.49 and a two-hundred day moving average price of $47.32. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 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 company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business posted $0.03 earnings per share. Palantir Technologies's quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho upped their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a research note on Friday, December 13th. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Morgan Stanley reissued an "underweight" rating and issued a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. William Blair reissued an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Argus cut Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $43.78.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company's stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the business's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last ninety days. Insiders own 12.93% of the company's stock.

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.