Mandatum Life Insurance Co Ltd Sells 20,422 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Mandatum Life Insurance Co Ltd trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 33.9% during the 4th quarter, HoldingsChannel reports. The fund owned 39,807 shares of the company’s stock after selling 20,422 shares during the quarter. Palantir Technologies makes up approximately 0.9% of Mandatum Life Insurance Co Ltd’s investment portfolio, making the stock its 23rd biggest holding. Mandatum Life Insurance Co Ltd’s holdings in Palantir Technologies were worth $3,011,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted 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. Wolff Wiese Magana LLC boosted its holdings in 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 purchasing an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of Palantir Technologies in the 2nd quarter worth approximately $36,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Friday. They set a “neutral” rating and a $72.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.78.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last 90 days. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

PLTR opened at $71.77 on Monday. The company has a fifty day moving average price of $70.49 and a two-hundred day moving average price of $47.32. The firm has a market capitalization of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Palantir Technologies 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.