Mainstay Capital Management LLC ADV Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Mainstay Capital Management LLC ADV lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,248 shares of the company’s stock after selling 3,305 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Palantir Technologies were worth $1,683,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Finally, State of Alaska Department of Revenue raised its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 4.6 %

Shares of NASDAQ PLTR opened at $101.33 on Monday. The company’s 50-day simple moving average is $85.87 and its 200-day simple moving average is $59.84. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTR. Mizuho upped their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Wedbush upped their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Loop Capital assumed coverage on shares of Palantir Technologies in a research report on Thursday. They set a “buy” rating and a $141.00 target price on the stock. Finally, Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $73.21.

Insider Activity

In other news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,671,246 shares of company stock worth $472,745,137 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

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.