GAMMA Investing LLC Increases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

GAMMA Investing LLC grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 83.9% during the third quarter, Holdings Channel.com reports. The fund owned 5,713 shares of the company’s stock after acquiring an additional 2,607 shares during the period. GAMMA Investing LLC’s holdings in Palantir Technologies were worth $213,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $25,000. West Paces Advisors Inc. lifted its stake in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV grew its position in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTR. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Northland Securities began coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective on the stock. Wedbush lifted their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Down 0.1 %

Shares of Palantir Technologies stock opened at $43.49 on Friday. Palantir Technologies Inc. has a 52 week low of $14.48 and a 52 week high of $44.38. The firm’s 50 day moving average is $34.08 and its two-hundred day moving average is $27.40. The firm has a market capitalization of $97.39 billion, a P/E ratio of 255.84 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS 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 company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period last year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares in the company, valued at approximately $22,452,139.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Peter Thiel sold 4,181,118 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the transaction, the director now owns 38,502,451 shares of the company’s stock, valued at $1,421,125,466.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,831,855 shares of company stock worth $649,330,295. Corporate insiders own 12.93% of the company’s stock.

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.