Miracle Mile Advisors LLC Trims Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Miracle Mile Advisors LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,774 shares of the company’s stock after selling 534 shares during the period. Miracle Mile Advisors LLC’s holdings in Palantir Technologies were worth $1,193,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLTR. State Street Corp boosted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. International Assets Investment Management LLC boosted its stake in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP boosted its stake in Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 in the company, valued at $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock worth $1,444,232,453 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $65.91 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a 50 day simple moving average of $69.70 and a two-hundred day simple moving average of $46.54. The company has a market capitalization of $150.14 billion, a price-to-earnings ratio of 329.57, a P/E/G ratio of 10.18 and a beta of 2.82.

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

Analyst Ratings Changes

PLTR has been the subject of several research analyst reports. DA Davidson lifted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Wedbush boosted their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Finally, UBS Group started coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.12.

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.