Mackenzie Financial Corp Increases Stake in Palantir Technologies Inc. (NYSE:PLTR)

Mackenzie Financial Corp lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 130,323 shares of the company’s stock after acquiring an additional 5,178 shares during the period. Mackenzie Financial Corp’s holdings in Palantir Technologies were worth $2,238,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho raised their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Wedbush restated an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Wednesday, February 14th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Raymond James raised their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Up 2.5 %

PLTR opened at $20.98 on Tuesday. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50. The firm has a market capitalization of $46.41 billion, a P/E ratio of 233.08, a P/E/G ratio of 5.02 and a beta of 2.78. The firm’s 50 day moving average is $23.68 and its 200-day moving average is $19.95.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Equities analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by corporate insiders.

Palantir Technologies 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.