Van ECK Associates Corp Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

Van ECK Associates Corp boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 39.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 617,808 shares of the company’s stock after acquiring an additional 173,419 shares during the quarter. Van ECK Associates Corp’s holdings in Palantir Technologies were worth $10,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Palantir Technologies by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares during the last quarter. Morgan Stanley raised its holdings in shares of Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its stake in shares of Palantir Technologies by 314.7% during the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after acquiring an additional 4,011,100 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Palantir Technologies during the 3rd quarter valued at $55,719,000. Finally, International Assets Investment Management LLC grew its position in Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after acquiring an additional 2,742,071 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the sale, the director now directly owns 191,783 shares in the company, valued at approximately $4,777,314.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Insiders own 13.96% of the company’s stock.

Palantir Technologies Stock Up 1.9 %

NYSE:PLTR opened at $22.55 on Friday. The firm has a 50 day moving average of $23.38 and a 200 day moving average of $20.16. Palantir Technologies Inc. has a 52 week low of $7.28 and a 52 week high of $27.50. The stock has a market capitalization of $49.90 billion, a price-to-earnings ratio of 250.58, a PEG ratio of 5.42 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 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 return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. As a group, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Wednesday, February 14th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $18.35.

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.