GAMMA Investing LLC Invests $33,000 in Palantir Technologies Inc. (NYSE:PLTR)

GAMMA Investing LLC bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,051 shares of the company’s stock, valued at approximately $33,000.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC increased its stake in Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares in the last quarter. Pacifica Partners Inc. purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $27,000. Provence Wealth Management Group purchased a new position in Palantir Technologies in the 3rd quarter valued at approximately $34,000. Glass Jacobson Investment Advisors llc purchased a new position in Palantir Technologies in the 3rd quarter valued at approximately $35,000. Finally, SJS Investment Consulting Inc. increased its stake in Palantir Technologies by 1,197.4% in the 4th quarter. SJS Investment Consulting Inc. now owns 2,011 shares of the company’s stock valued at $35,000 after purchasing an additional 1,856 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

NYSE PLTR opened at $23.33 on Monday. Palantir Technologies Inc. has a twelve month low of $7.28 and a twelve month high of $27.50. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 259.22, a PEG ratio of 5.72 and a beta of 2.76. The firm’s 50 day moving average price is $23.36 and its two-hundred day moving average price is $20.25.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. On average, research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Raymond James increased their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Finally, Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.35.

Insider Activity

In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold a total of 7,476,273 shares of company stock worth $184,783,602 in the last ninety days. Corporate insiders own 13.96% of the company’s stock.

Palantir Technologies Company 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.