Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Mandatum Life Insurance Co Ltd

Mandatum Life Insurance Co Ltd reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 29.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 28,031 shares of the company’s stock after selling 11,776 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Palantir Technologies were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp increased its stake in shares of Palantir Technologies by 159.1% during the first quarter. Archer Investment Corp now owns 3,887 shares of the company’s stock worth $328,000 after purchasing an additional 2,387 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Palantir Technologies during the first quarter worth about $62,000. Ring Mountain Capital LLC grew its stake in Palantir Technologies by 101.7% during the 1st quarter. Ring Mountain Capital LLC now owns 6,116 shares of the company’s stock valued at $516,000 after acquiring an additional 3,084 shares in the last quarter. Creekmur Asset Management LLC grew its stake in Palantir Technologies by 60.3% during the 1st quarter. Creekmur Asset Management LLC now owns 11,642 shares of the company’s stock valued at $983,000 after acquiring an additional 4,381 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. purchased a new stake in Palantir Technologies during the 1st quarter valued at about $242,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLTR shares. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $91.37.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $1.20 during trading on Friday, reaching $152.79. The company had a trading volume of 12,289,599 shares, compared to its average volume of 83,141,351. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68. The stock’s 50 day moving average price is $133.61 and its two-hundred day moving average price is $105.61. The firm has a market capitalization of $360.58 billion, a price-to-earnings ratio of 664.88, a PEG ratio of 12.88 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates 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 18.32% and a return on equity of 6.55%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.