Mackenzie Financial Corp Buys 49,881 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Mackenzie Financial Corp increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 235,979 shares of the company's stock after acquiring an additional 49,881 shares during the quarter. Mackenzie Financial Corp's holdings in Palantir Technologies were worth $17,847,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $27,000. HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares during the period. Sierra Ocean LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $31,000. R Squared Ltd acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $33,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $34,000. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. 9.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Stock Performance

Shares of PLTR traded up $0.37 during trading hours on Wednesday, reaching $123.76. 64,203,392 shares of the company traded hands, compared to its average volume of 78,060,498. The stock's fifty day moving average is $104.13 and its 200 day moving average is $88.73. The stock has a market cap of $290.26 billion, a P/E ratio of 651.40, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 1-year low of $20.64 and a 1-year high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies 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.