Palantir Technologies Inc. $PLTR Shares Bought by McGuire Investment Group LLC

Key Points

• McGuire Investment Group LLC increased its holdings in Palantir Technologies by 8.8% in Q2, owning 225,830 shares valued at approximately $30.8 million.
• Palantir Technologies had a strong quarterly performance, reporting a 48% year-over-year revenue growth and earnings per share (EPS) of $0.16, surpassing analysts' expectations of $0.14.
• Institutional investors now own about 45.65% of Palantir's stock, with various hedge funds adjusting their positions during the past quarter.

McGuire Investment Group LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,830 shares of the company's stock after buying an additional 18,191 shares during the period. Palantir Technologies accounts for 3.9% of McGuire Investment Group LLC's holdings, making the stock its 5th largest position. McGuire Investment Group LLC's holdings in Palantir Technologies were worth $30,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christensen King & Associates Investment Services Inc. increased its holdings in shares of Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after acquiring an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after buying an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after buying an additional 80 shares in the last quarter. Oxinas Partners Wealth Management LLC grew its holdings in Palantir Technologies by 2.7% during the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock worth $410,000 after buying an additional 80 shares in the last quarter. Finally, Optima Capital LLC grew its holdings in Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after buying an additional 81 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research report on Tuesday, August 5th. Finally, Citigroup reaffirmed a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $140.22.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,591,085 shares of company stock worth $244,676,722 over the last quarter. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $184.95 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $36.15 and a fifty-two week high of $190.00. The stock has a 50 day simple moving average of $167.97 and a two-hundred day simple moving average of $135.33. The stock has a market cap of $438.76 billion, a P/E ratio of 616.52, a price-to-earnings-growth ratio of 10.18 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.