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McDonough Capital Management Inc Buys 4,588 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies logo with Business Services background

McDonough Capital Management Inc increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 80.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,297 shares of the company's stock after buying an additional 4,588 shares during the quarter. Palantir Technologies accounts for about 0.6% of McDonough Capital Management Inc's investment portfolio, making the stock its 25th largest position. McDonough Capital Management Inc's holdings in Palantir Technologies were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter worth $1,360,191,000. FMR LLC raised its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $1.20 during trading hours on Thursday, hitting $135.19. 56,051,410 shares of the stock were exchanged, compared to its average volume of 80,361,701. The firm has a market capitalization of $319.04 billion, a P/E ratio of 711.56, a P/E/G ratio of 10.84 and a beta of 2.64. The company's 50 day moving average is $113.13 and its 200 day moving average is $93.63. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $140.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric H. Woersching sold 17,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $129.29, for a total value of $2,197,930.00. Following the transaction, the director now owns 12,562 shares of the company's stock, valued at $1,624,140.98. This represents a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,661,925 shares of company stock worth $268,580,958. 9.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Citigroup increased their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $86.30.

Read Our Latest Analysis on PLTR

Palantir Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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