MFG Wealth Management Inc. Sells 12,647 Shares of Palantir Technologies Inc. $PLTR

MFG Wealth Management Inc. lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 43.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,257 shares of the company’s stock after selling 12,647 shares during the quarter. Palantir Technologies comprises 2.2% of MFG Wealth Management Inc.’s portfolio, making the stock its 12th largest position. MFG Wealth Management Inc.’s holdings in Palantir Technologies were worth $2,966,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PLTR. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after buying an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC bought a new stake in Palantir Technologies in the 2nd quarter worth about $204,000. Finally, New Century Financial Group LLC purchased a new position in Palantir Technologies in the 2nd quarter worth about $228,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent analyst reports. CICC Research raised their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Jefferies Financial Group restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Robert W. Baird boosted their target price on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Raymond James Financial reissued a “market perform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $172.28.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the transaction, the insider directly owned 251,409 shares of the company’s stock, valued at $40,818,765.24. The trade was a 12.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 15,557 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $2,551,192.43. Following the transaction, the insider owned 415,612 shares of the company’s stock, valued at approximately $68,156,211.88. This trade represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,008,844 shares of company stock valued at $164,750,951. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $185.69 on Friday. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52. The company’s fifty day simple moving average is $179.38 and its 200-day simple moving average is $164.99. The stock has a market capitalization of $442.58 billion, a PE ratio of 442.13, a P/E/G ratio of 6.87 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s revenue was up 62.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.