Fagan Associates Inc. Has $16.78 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Fagan Associates Inc. reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,842 shares of the company's stock after selling 55,454 shares during the quarter. Palantir Technologies makes up 2.8% of Fagan Associates Inc.'s portfolio, making the stock its 7th largest holding. Fagan Associates Inc.'s holdings in Palantir Technologies were worth $16,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Mechanics Financial Corp bought a new position in shares of Palantir Technologies during the first quarter valued at $25,000. Richardson Capital Management LLC bought a new stake in Palantir Technologies during the 1st quarter worth about $33,000. Cornerstone Planning Group LLC raised its holdings in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the last quarter. Summit Securities Group LLC bought a new stake in Palantir Technologies during the 4th quarter worth about $34,000. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Morgan Stanley lifted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Wedbush set a $160.00 target price on Palantir Technologies in a research note on Thursday, July 10th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $91.37.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $0.94 during midday trading on Monday, hitting $154.46. The company had a trading volume of 7,712,766 shares, compared to its average volume of 83,132,114. The company has a 50 day moving average of $134.33 and a 200 day moving average of $106.57. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $155.68. The stock has a market capitalization of $364.51 billion, a P/E ratio of 669.66, a P/E/G ratio of 13.11 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the business posted $0.08 earnings per share. The business's quarterly revenue was up 39.4% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 12.93% of the company's stock.

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.

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