Delta Investment Management LLC Invests $350,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Delta Investment Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,626 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its position in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Northern Trust Corp raised its position in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its position in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Mizuho increased their target price on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. Finally, UBS Group increased their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the sale, the insider now owns 493,469 shares of the company’s stock, valued at $50,491,748.08. The trade was a 3.62% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Down 0.6%

Shares of PLTR opened at $125.59 on Wednesday. The business’s fifty day simple moving average is $100.49 and its two-hundred day simple moving average is $86.30. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The company has a market cap of $294.55 billion, a price-to-earnings ratio of 661.03, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.