GF Fund Management CO. LTD. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

GF Fund Management CO. LTD. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 266,800 shares of the company’s stock, valued at approximately $20,178,000.

A number of other hedge funds have also modified their holdings of PLTR. Tallon Kerry Patrick acquired a new stake in Palantir Technologies during the fourth quarter worth about $289,000. Advisory Alpha LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $362,000. Daymark Wealth Partners LLC boosted its stake in Palantir Technologies by 38.1% during the fourth quarter. Daymark Wealth Partners LLC now owns 9,680 shares of the company’s stock worth $732,000 after buying an additional 2,670 shares during the period. Wesbanco Bank Inc. boosted its stake in Palantir Technologies by 5.5% during the fourth quarter. Wesbanco Bank Inc. now owns 9,600 shares of the company’s stock worth $726,000 after buying an additional 500 shares during the period. Finally, Mutual Advisors LLC boosted its stake in Palantir Technologies by 22.8% during the fourth quarter. Mutual Advisors LLC now owns 63,108 shares of the company’s stock worth $4,370,000 after buying an additional 11,710 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $123.31 on Friday. The company has a market capitalization of $289.21 billion, a P/E ratio of 649.03, a P/E/G ratio of 10.84 and a beta of 2.68. The company has a fifty day moving average of $102.66 and a 200 day moving average of $87.59. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49.

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

Analysts Set New Price Targets

Several research firms have recently commented on PLTR. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.95.

Insiders Place Their Bets

In related news, insider Jeffrey Buckley sold 1,708 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the sale, the insider now owns 34,468 shares in the company, valued at approximately $4,356,410.52. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,931,701 shares of company stock worth $373,180,433 in the last three months. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Company Profile

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.