Menard Financial Group LLC Has $2.19 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Menard Financial Group LLC increased its stake in Palantir Technologies by 8.2% during the 1st quarter, bringing its total holdings to $2.19 million and making it the firm's 14th largest investment.
• Several institutional investors have also modified their positions in Palantir, with a total of 45.65% of the stock currently owned by such investors.
• Palantir Technologies reported a 39.4% year-over-year increase in revenue and achieved an EPS of $0.13, aligning with analysts' expectations during its last earnings announcement.

Menard Financial Group LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,938 shares of the company's stock after purchasing an additional 1,964 shares during the quarter. Palantir Technologies makes up about 1.5% of Menard Financial Group LLC's investment portfolio, making the stock its 14th largest holding. Menard Financial Group LLC's holdings in Palantir Technologies were worth $2,189,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp acquired a new position in Palantir Technologies in the first quarter worth $25,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter worth $33,000. Cornerstone Planning Group LLC boosted its holdings in Palantir Technologies by 90.2% in the first 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 period. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares during the period. Finally, Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Down 2.6%

Palantir Technologies stock traded down $4.08 during midday trading on Friday, hitting $154.27. The company's stock had a trading volume of 60,986,881 shares, compared to its average volume of 52,655,748. The stock's 50-day moving average price is $139.76 and its 200-day moving average price is $111.35. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $160.89. The company has a market capitalization of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 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 firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the business earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Piper Sandler assumed coverage on shares of Palantir Technologies in a report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $96.45.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is owned by company insiders.

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.