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

Mainstay Capital Management LLC ADV cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 12.9% during the fourth quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. This represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,671,246 shares of company stock worth $472,745,137 in the last 90 days. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLTR shares. Northland Securities lifted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Price Performance

PLTR stock opened at $101.33 on Monday. The company has a fifty day moving average price of $85.87 and a 200 day moving average price of $59.84. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The company 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.

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.