Assenagon Asset Management S.A. Buys 6,160 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Assenagon Asset Management S.A. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,172 shares of the company’s stock after buying an additional 6,160 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Palantir Technologies were worth $3,265,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PLTR. State Street Corp grew its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Palantir Technologies by 5.7% in 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 period. FMR LLC raised its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s 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 completion of the sale, the director now owns 195,393 shares in the company, 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 document filed with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last 90 days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Up 1.8 %

Palantir Technologies stock opened at $73.07 on Wednesday. The stock has a market cap of $166.45 billion, a price-to-earnings ratio of 365.37, a P/E/G ratio of 6.66 and a beta of 2.82. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The business’s 50-day simple moving average is $70.72 and its 200 day simple moving average is $47.79.

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

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Securities raised their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus 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.