Mutual of America Capital Management LLC Acquires New Position in Palantir Technologies Inc. (NYSE:PLTR)

Mutual of America Capital Management LLC acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 247,642 shares of the company's stock, valued at approximately $9,212,000.

Other hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter worth $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter worth about $25,000. Creekmur Asset Management LLC lifted its holdings in Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company's stock worth $40,000 after acquiring an additional 335 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the second quarter worth about $30,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLTR. Northland Capmk upgraded Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an "underperform" rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Citigroup lifted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a "sell" rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $31.71.

Palantir Technologies Stock Down 6.9 %

Shares of NYSE:PLTR traded down $4.52 during midday trading on Monday, reaching $61.25. The company had a trading volume of 137,129,166 shares, compared to its average volume of 58,734,543. The business's 50 day moving average price is $43.19 and its 200 day moving average price is $32.08. The stock has a market cap of $137.17 billion, a PE ratio of 307.22 and a beta of 2.70. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies's quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The trade was a 6.23 % 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 Heather A. Planishek sold 11,373 shares of Palantir Technologies stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total transaction of $366,779.25. Following the completion of the sale, the insider now owns 600,633 shares of the company's stock, valued at $19,370,414.25. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,562,840 shares of company stock valued at $1,435,787,316 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Company 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.