Bridgewater Advisors Inc. Invests $924,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Bridgewater Advisors Inc. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,942 shares of the company’s stock, valued at approximately $924,000.

Several other institutional investors and hedge funds also recently modified their holdings of PLTR. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. FMR LLC increased its stake in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $148.58 on Wednesday. The firm has a market cap of $350.64 billion, a PE ratio of 646.00, a P/E/G ratio of 12.73 and a beta of 2.59. The stock has a fifty day moving average price of $132.11 and a 200-day moving average price of $104.76. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $150.62.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLTR shares. UBS Group reiterated a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $90.37.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 35,480 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the sale, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,452,297 shares of company stock worth $186,222,373. Company 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.