McGuire Investment Group LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

McGuire Investment Group LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,639 shares of the company's stock after selling 5,103 shares during the period. Palantir Technologies comprises about 2.6% of McGuire Investment Group LLC's investment portfolio, making the stock its 13th biggest position. McGuire Investment Group LLC's holdings in Palantir Technologies were worth $17,525,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in Palantir Technologies during the fourth quarter valued at $34,000. Fairfield Financial Advisors LTD bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $35,000. Godsey & Gibb Inc. grew its position in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of Palantir Technologies during the fourth quarter valued at about $36,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $38,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $89.32.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 9.4%

PLTR stock opened at $130.74 on Friday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The company has a 50-day moving average price of $125.24 and a 200 day moving average price of $99.62. The stock has a market cap of $308.53 billion, a PE ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64.

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

Palantir Technologies Profile

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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