Investment Management Corp of Ontario Purchases 36,175 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Investment Management Corp of Ontario grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 53.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,426 shares of the company’s stock after acquiring an additional 36,175 shares during the quarter. Investment Management Corp of Ontario’s holdings in Palantir Technologies were worth $7,822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new stake in Palantir Technologies in the 4th quarter valued at $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock worth $252,115,667 in the last ninety days. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $117.36 on Friday. The company has a 50 day simple moving average of $94.23 and a two-hundred day simple moving average of $82.26. The firm has a market cap of $275.25 billion, a PE ratio of 617.72, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 1 year low of $20.60 and a 1 year high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, Loop Capital raised their target price on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued 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 $83.95.

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.