Palantir Technologies Inc. $PLTR Stock: McGuire Investment Group LLC Cuts Stake

McGuire Investment Group LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,123 shares of the company’s stock after selling 4,110 shares during the period. Palantir Technologies comprises 3.4% of McGuire Investment Group LLC’s holdings, making the stock its 8th biggest holding. McGuire Investment Group LLC’s holdings in Palantir Technologies were worth $37,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $1,574,111,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock worth $1,528,143,000 after buying an additional 7,678,747 shares during the period. Bank of America Corp DE raised its holdings in shares of Palantir Technologies by 28.7% in the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock worth $2,755,883,000 after buying an additional 4,201,852 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Palantir Technologies by 795.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock worth $480,247,000 after acquiring an additional 2,952,079 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after purchasing an additional 2,863,874 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLTR shares. Piper Sandler upped their target price on Palantir Technologies from $230.00 to $231.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group reissued an “underperform” rating and set a $80.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Oppenheimer downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.48.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 492,348 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the sale, the insider owned 6,432,258 shares in the company, valued at $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $201.15, for a total value of $3,620,700.00. Following the transaction, the insider owned 274,667 shares of the company’s stock, valued at $55,249,267.05. This represents a 6.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 560,390 shares of company stock worth $97,909,177 over the last ninety days. Insiders own 9.53% of the company’s stock.

Palantir Technologies News Summary

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Investors expect Palantir to outperform its third-quarter revenue guidance of approximately $2.16 billion, based on the company’s recent history of exceeding forecasts. A stronger result or raised outlook could support the stock’s rally. Palantir Guided for $2.16 Billion in Revenue for Q3
• Positive Sentiment: Analyst Dan Ives said Palantir and Snowflake are approaching the point where significant AI infrastructure spending translates into software monetization, and he believes Wall Street may be underestimating technology earnings potential. Dan Ives on AI Monetization
• Positive Sentiment: Citi raised its Palantir price target from $245 to $250 while maintaining a Buy rating, adding to bullish expectations ahead of the earnings release. Citi Raises Palantir Stock Price Target
• Positive Sentiment: Palantir is expanding its commercial and government reach through partnerships with Stagwell and Knox Systems, while elevating Aplos Data within its partner network to help deploy Foundry and AIP to additional customers. Palantir and Stagwell Expand AI Partnership
• Neutral Sentiment: The November 2 earnings report is the immediate catalyst. Investors will watch revenue growth, commercial customer momentum, margins and forward guidance to determine whether Palantir can justify its near-record valuation. Should You Buy or Sell Palantir Ahead of Earnings?
• Negative Sentiment: Palantir trades at a very elevated earnings multiple, and some analysts see limited additional upside. Any slowdown relative to expectations could prompt profit-taking or a sharp pullback. Palantir: The Business Is Booming, But the Stock Has a Problem
• Negative Sentiment: ARK Invest trimmed its Palantir position, while concerns about the scalability and economics of forward-deployed AI add pressure to the bullish thesis. Cathie Wood Trims Palantir Shares

Palantir Technologies Stock Up 0.3%

Palantir Technologies stock opened at $196.75 on Friday. The company’s 50 day moving average is $184.76 and its two-hundred day moving average is $153.78. The firm has a market cap of $472.80 billion, a PE ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The company’s revenue was up 92.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.

Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.

Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.