Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 317,380 shares of the company’s stock after selling 27,976 shares during the period. USS Investment Management Ltd’s holdings in Palantir Technologies were worth $24,011,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its position in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its stake in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new position in Palantir Technologies during the 4th quarter worth approximately $253,816,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek acquired 10,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the completion of the transaction, the insider now owns 58,006 shares of the company’s stock, valued at $6,736,816.84. This trade represents a 20.83% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,964,290 shares of company stock valued at $250,504,866 in the last 90 days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $126.33 on Tuesday. The stock’s 50 day simple moving average is $99.57 and its 200 day simple moving average is $86.02. Palantir Technologies Inc. has a twelve month low of $20.63 and a twelve month high of $133.49. The company has a market capitalization of $296.29 billion, a price-to-earnings ratio of 664.93, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the previous year, the company earned $0.08 earnings per share. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on PLTR shares. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Mizuho raised their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Finally, Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.95.

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.