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

Mackenzie Financial Corp increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,323 shares of the company’s stock after buying an additional 5,178 shares during the period. Mackenzie Financial Corp’s holdings in Palantir Technologies were worth $2,238,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares in the last quarter. Morgan Stanley lifted its holdings in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its holdings in Palantir Technologies by 314.7% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after purchasing an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Palantir Technologies during the third quarter valued at $55,719,000. Finally, International Assets Investment Management LLC lifted its holdings in Palantir Technologies by 1,784.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after purchasing an additional 2,742,071 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 2.5 %

Palantir Technologies stock opened at $20.98 on Tuesday. Palantir Technologies Inc. has a 12-month low of $7.28 and a 12-month high of $27.50. The stock has a market cap of $46.41 billion, a P/E ratio of 233.08, a PEG ratio of 5.02 and a beta of 2.78. The company has a 50-day moving average price of $23.68 and a 200 day moving average price of $19.95.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the sale, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Peter Thiel sold 7,044,756 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock worth $184,343,202 over the last three months. Insiders own 13.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLTR. Bank of America increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Mizuho increased their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Wednesday, February 14th. Wedbush reiterated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Finally, Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and increased their target price for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $18.35.

About Palantir Technologies

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.