Wedge Capital Management L L P NC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Wedge Capital Management L L P NC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,996 shares of the company’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC boosted its stake in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $14,911,605. The trade was a 27.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $73.07 on Wednesday. The firm has a market cap of $166.45 billion, a price-to-earnings ratio of 365.37, a PEG ratio of 6.66 and a beta of 2.82. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm’s 50-day simple moving average is $70.72 and its 200-day simple moving average is $47.79.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the firm posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Wedbush lifted their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $43.78.

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.