Mesirow Financial Investment Management Inc. Sells 3,450 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Mesirow Financial Investment Management Inc. has reduced its stake in Palantir Technologies by 34.7%, now holding 6,490 shares after selling 3,450 shares.
• Insider Shyam Sankar sold 405,000 shares at an average price of $132.08, resulting in a significant decrease in their ownership at Palantir.
• Several analysts have recently raised their price targets on Palantir Technologies, with Piper Sandler initiating coverage with an "overweight" rating and a target price of $170.00.

Mesirow Financial Investment Management Inc. lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,490 shares of the company's stock after selling 3,450 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Palantir Technologies were worth $548,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allegiance Financial Group Advisory Services LLC lifted its stake in Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after buying an additional 84 shares during the period. Sovran Advisors LLC grew its stake in Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC grew its stake in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after acquiring an additional 97 shares during the period. Continuum Advisory LLC grew its stake in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the period. Finally, Kathmere Capital Management LLC grew its stake in shares of Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after acquiring an additional 99 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 30,812 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider directly owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 in the last 90 days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 2.6%

PLTR traded down $4.08 during midday trading on Friday, reaching $154.27. The company had a trading volume of 60,986,881 shares, compared to its average volume of 52,655,748. The business has a 50-day moving average of $140.37 and a two-hundred day moving average of $111.96. The company has a market cap of $364.06 billion, a P/E ratio of 670.74, a P/E/G ratio of 13.50 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $160.89.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Loop Capital raised their target price on Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Piper Sandler assumed coverage on Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target on the stock. Finally, Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $96.45.

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.