GAMMA Investing LLC Purchases 758 Shares of Palantir Technologies Inc. (NYSE:PLTR)

GAMMA Investing LLC lifted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 37.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,809 shares of the company’s stock after acquiring an additional 758 shares during the quarter. GAMMA Investing LLC’s holdings in Palantir Technologies were worth $65,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Pursue Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $1,741,000. Vanguard Group Inc. raised its stake in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. Trexquant Investment LP purchased a new stake in Palantir Technologies during the third quarter worth $4,446,000. Raymond James Financial Services Advisors Inc. boosted its position in Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after acquiring an additional 116,220 shares in the last quarter. Finally, Udine Wealth Management Inc. purchased a new position in shares of Palantir Technologies in the 4th quarter valued at $1,612,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a research note on Friday. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target on the stock. Finally, HSBC raised their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $21.25.

Palantir Technologies Price Performance

NYSE PLTR opened at $23.84 on Monday. Palantir Technologies Inc. has a 1 year low of $13.56 and a 1 year high of $27.50. The company has a market capitalization of $53.09 billion, a PE ratio of 198.68, a P/E/G ratio of 5.90 and a beta of 2.70. The company has a fifty day moving average of $22.29 and a 200 day moving average of $21.26.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. Research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the sale, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 2,398 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,374,153 shares of company stock worth $239,976,945. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.