Empirical Capital Management LLC Has $8.94 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Empirical Capital Management LLC boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 130.7% during the 2nd quarter, Holdings Channel reports. The firm owned 353,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Palantir Technologies comprises about 6.4% of Empirical Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Empirical Capital Management LLC’s holdings in Palantir Technologies were worth $8,941,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Palantir Technologies during the second quarter valued at $361,000. Sepio Capital LP bought a new position in Palantir Technologies during the 2nd quarter valued at about $245,000. Scientech Research LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth $1,243,000. Legal & General Group Plc increased its stake in shares of Palantir Technologies by 1.4% during the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at about $3,361,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now directly owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the completion of the sale, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the sale, the director now directly owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,644,559 shares of company stock worth $346,929,762. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. Argus began coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Bank of America upped their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Wedbush increased their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Down 0.6 %

PLTR opened at $36.86 on Friday. The business’s 50 day moving average is $31.43 and its two-hundred day moving average is $26.31. Palantir Technologies Inc. has a 52 week low of $14.48 and a 52 week high of $38.19. The firm has a market cap of $82.08 billion, a price-to-earnings ratio of 307.17 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the prior year, the firm posted $0.01 EPS. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

About Palantir Technologies

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.