Palantir Technologies Inc. (NASDAQ:PLTR) Stake Raised by Gemmer Asset Management LLC

Gemmer Asset Management LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,448 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Gemmer Asset Management LLC’s holdings in Palantir Technologies were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Palantir Technologies during the 4th quarter worth $257,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Palantir Technologies by 83.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 5,062 shares of the company’s stock valued at $383,000 after purchasing an additional 2,309 shares in the last quarter. Purus Wealth Management LLC lifted its holdings in Palantir Technologies by 13.9% in the fourth quarter. Purus Wealth Management LLC now owns 10,254 shares of the company’s stock worth $776,000 after purchasing an additional 1,250 shares during the period. Meritas Wealth Management LLC bought a new position in Palantir Technologies in the 4th quarter valued at about $368,000. Finally, Wealth Management Partners LLC increased its stake in Palantir Technologies by 4.1% during the 4th quarter. Wealth Management Partners LLC now owns 25,130 shares of the company’s stock valued at $1,901,000 after buying an additional 980 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PLTR. Northland Securities upped their price target 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. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Robert W. Baird began 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 upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $71.77 on Monday. The company has a 50 day moving average price of $70.49 and a 200 day moving average price of $47.47. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The firm has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. Equities analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

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.