MGO One Seven LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• MGO One Seven LLC has reduced its holdings in Palantir Technologies by 8.1%, now owning 37,324 shares valued at approximately $3.15 million.
• Insider Shyam Sankar sold 405,000 shares at an average price of $132.08, resulting in a 36.56% decrease in his stock position.
• Analysts have set a new average price target of $96.45 for Palantir Technologies, with a mixed performance rating across multiple firms.

MGO One Seven LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,324 shares of the company's stock after selling 3,295 shares during the quarter. MGO One Seven LLC's holdings in Palantir Technologies were worth $3,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lyell Wealth Management LP acquired a new stake in Palantir Technologies in the first quarter valued at about $207,000. Menard Financial Group LLC lifted its position in Palantir Technologies by 8.2% in the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after acquiring an additional 1,964 shares in the last quarter. Private Advisory Group LLC lifted its position in shares of Palantir Technologies by 52.5% during the 1st quarter. Private Advisory Group LLC now owns 28,059 shares of the company's stock worth $2,368,000 after buying an additional 9,660 shares in the last quarter. Natixis Advisors LLC boosted its stake in Palantir Technologies by 268.6% in the first quarter. Natixis Advisors LLC now owns 739,721 shares of the company's stock valued at $62,432,000 after acquiring an additional 539,038 shares during the last quarter. Finally, NorthRock Partners LLC grew its position in shares of Palantir Technologies by 8.7% during the 1st quarter. NorthRock Partners LLC now owns 29,246 shares of the company's stock valued at $2,468,000 after acquiring an additional 2,333 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 2.6%

Shares of PLTR traded down $4.08 during mid-day 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. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.89. The firm has a market capitalization of $364.06 billion, a price-to-earnings ratio of 670.74, a PEG ratio of 13.50 and a beta of 2.60. The company's 50-day moving average is $140.37 and its 200-day moving average is $111.96.

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 for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Citigroup lifted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research note on Thursday, July 10th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $96.45.

Insider Activity

In related news, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at $54,563,250. The trade was a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is currently owned by corporate insiders.

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.