Massachusetts Financial Services Co. MA Invests $33.90 Million in Palantir Technologies Inc. (NYSE:PLTR)

Massachusetts Financial Services Co. MA bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 911,404 shares of the company’s stock, valued at approximately $33,904,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter worth $25,000. Creekmur Asset Management LLC lifted its stake in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in shares of Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after acquiring an additional 380 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % 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 Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,167,451 shares of company stock worth $1,603,067,889 over the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $64.35 on Monday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00. The stock’s fifty day moving average price is $45.94 and its two-hundred day moving average price is $33.48. The company has a market cap of $146.59 billion, a PE ratio of 321.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.