Mutual of America Capital Management LLC Sells 7,186 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Mutual of America Capital Management LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,343 shares of the company's stock after selling 7,186 shares during the quarter. Mutual of America Capital Management LLC's holdings in Palantir Technologies were worth $20,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its position in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in Palantir Technologies during the 4th quarter worth about $253,816,000. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 3,418 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the transaction, the insider directly owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,452,297 shares of company stock worth $186,222,373 in the last quarter. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $142.10 on Friday. The business has a 50 day simple moving average of $130.81 and a 200 day simple moving average of $103.81. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The stock has a market cap of $335.34 billion, a price-to-earnings ratio of 617.83, a PEG ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting 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 analysts' expectations of $863.89 million. During the same period in the prior year, the business earned $0.08 EPS. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PLTR. Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Mizuho upped their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Finally, Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $89.32.

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.

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