MCF Advisors LLC Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

MCF Advisors LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 48.3% during the 4th quarter, Holdings Channel reports. The firm owned 16,002 shares of the company’s stock after selling 14,976 shares during the period. MCF Advisors LLC’s holdings in Palantir Technologies were worth $1,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Palantir Technologies by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after purchasing an additional 278,544 shares during the last quarter. Blair William & Co. IL raised its stake in Palantir Technologies by 18.4% in the 2nd quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock worth $1,569,000 after acquiring an additional 9,623 shares during the last quarter. XTX Topco Ltd acquired a new stake in Palantir Technologies during the second quarter worth about $330,000. Thrivent Financial for Lutherans raised its stake in shares of Palantir Technologies by 20.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after buying an additional 9,109 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at about $51,000. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group started coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Mizuho raised their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Trading Up 1.8 %

Shares of PLTR stock opened at $73.07 on Wednesday. The firm’s 50 day moving average is $70.72 and its 200-day moving average is $47.79. The firm has a market capitalization of $166.45 billion, a price-to-earnings ratio of 365.37, a PEG ratio of 6.66 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by insiders.

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.