McGuire Investment Group LLC Purchases 36,703 Shares of Palantir Technologies Inc. (NYSE:PLTR)

by · The Markets Daily

McGuire Investment Group LLC boosted its position in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 30.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,412 shares of the company’s stock after acquiring an additional 36,703 shares during the quarter. McGuire Investment Group LLC’s holdings in Palantir Technologies were worth $5,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PLTR. Scarborough Advisors LLC bought a new position in Palantir Technologies in the fourth quarter valued at $141,000. Syon Capital LLC bought a new position in Palantir Technologies in the fourth quarter valued at $431,000. EP Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 25.1% during the fourth quarter. EP Wealth Advisors LLC now owns 16,516 shares of the company’s stock valued at $284,000 after buying an additional 3,316 shares during the last quarter. Tortoise Investment Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $34,000. Finally, Fisher Asset Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $727,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.0 %

Shares of PLTR stock traded down $0.01 during trading hours on Friday, hitting $43.51. 66,206,893 shares of the company’s stock traded hands, compared to its average volume of 57,433,844. The stock’s fifty day simple moving average is $34.08 and its two-hundred day simple moving average is $27.42. Palantir Technologies Inc. has a 12-month low of $14.48 and a 12-month high of $44.38. The stock has a market cap of $97.44 billion, a price-to-earnings ratio of 255.96 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR – Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the transaction, the insider now directly owns 562,006 shares in the company, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,831,855 shares of company stock worth $649,330,295. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Argus began coverage on Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, Wedbush increased their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.29.

Check Out Our Latest Analysis on PLTR

Palantir Technologies Company Profile

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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