MFG Wealth Management Inc. Acquires New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

MFG Wealth Management Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,260 shares of the company's stock, valued at approximately $1,794,000. Palantir Technologies accounts for approximately 1.7% of MFG Wealth Management Inc.'s portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA grew its stake in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after buying an additional 111 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after buying an additional 114 shares in the last quarter. Gemmer Asset Management LLC grew its stake in shares of Palantir Technologies by 1.6% in the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after buying an additional 119 shares in the last quarter. Finally, Synergy Asset Management LLC grew its stake in shares of Palantir Technologies by 1.7% in the first quarter. Synergy Asset Management LLC now owns 7,017 shares of the company's stock valued at $592,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 9.4%

NASDAQ:PLTR traded down $13.51 during trading hours on Friday, reaching $130.74. 200,764,922 shares of the stock were exchanged, compared to its average volume of 82,235,403. The firm has a 50 day simple moving average of $125.24 and a 200-day simple moving average of $99.44. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The stock has a market capitalization of $308.53 billion, a P/E ratio of 568.43, a P/E/G ratio of 12.31 and a beta of 2.64.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.32.

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.