McGuire Investment Group LLC Purchases 55,330 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

McGuire Investment Group LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,742 shares of the company’s stock after purchasing an additional 55,330 shares during the quarter. Palantir Technologies accounts for about 2.3% of McGuire Investment Group LLC’s holdings, making the stock its 16th biggest holding. McGuire Investment Group LLC’s holdings in Palantir Technologies were worth $16,090,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the second quarter valued at $30,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 in the last three months. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Robert W. Baird started coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.61.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The company has a market cap of $179.92 billion, a PE ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. The firm has a 50-day moving average of $71.70 and a 200-day moving average of $48.53.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share 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.