McGowan Group Asset Management Inc. Acquires 8,474 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

McGowan Group Asset Management Inc. grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 131.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,933 shares of the company's stock after acquiring an additional 8,474 shares during the period. McGowan Group Asset Management Inc.'s holdings in Palantir Technologies were worth $1,129,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP grew its holdings in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new position in Palantir Technologies during the fourth quarter worth about $253,816,000. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This trade represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek acquired 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $116.14 per share, with a total value of $1,161,400.00. Following the purchase, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. The trade was a 20.83% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,964,290 shares of company stock valued at $250,504,866. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLTR shares. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Robert W. Baird raised their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Loop Capital lifted their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.95.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $1.40 during trading on Friday, hitting $129.52. The company's stock had a trading volume of 55,517,922 shares, compared to its average volume of 76,846,989. The stock has a market cap of $303.77 billion, a price-to-earnings ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The stock has a 50-day moving average price of $98.72 and a two-hundred day moving average price of $84.84. Palantir Technologies Inc. has a 52 week low of $20.63 and a 52 week high of $133.49.

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, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. 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 firm posted $0.08 earnings per share. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.