Mackenzie Financial Corp Has $22.45 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Mackenzie Financial Corp increased its stake in Palantir Technologies by 12.7%, acquiring 29,958 shares, and now holds 265,937 shares valued at approximately $22.45 million.
• Recent analyst ratings reveal a mix of sentiments, with Mizuho upgrading Palantir to a "neutral" rating and a target price increase to $135, while several firms maintain sell or underperform ratings.
• Palantir reported a revenue of $883.86 million for the latest quarter, a 39.4% increase year-over-year, and earnings per share meeting expectations at $0.13.

Mackenzie Financial Corp lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265,937 shares of the company's stock after buying an additional 29,958 shares during the period. Mackenzie Financial Corp's holdings in Palantir Technologies were worth $22,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mechanics Financial Corp acquired a new position in Palantir Technologies during the first quarter worth about $25,000. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies during the 1st quarter valued at about $33,000. Cornerstone Planning Group LLC grew its stake in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction on 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 sale, the insider directly owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 2.6%

PLTR stock traded down $4.08 during trading on Friday, reaching $154.27. 60,986,881 shares of the stock were exchanged, compared to its average volume of 52,655,748. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89. The company has a market capitalization of $364.06 billion, a P/E ratio of 1,319.58, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60. The stock has a 50 day simple moving average of $139.76 and a 200-day simple moving average of $111.35.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the company posted $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLTR. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Piper Sandler assumed coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $96.45.

About Palantir Technologies

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.