KBC Group NV Has $28.73 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

KBC Group NV reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 67.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,413 shares of the company's stock after selling 711,217 shares during the period. KBC Group NV's holdings in Palantir Technologies were worth $28,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP raised its position in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. raised 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 in the last quarter. Finally, Capital World Investors acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $2.15 on Friday, hitting $134.27. 41,812,483 shares of the company were exchanged, compared to its average volume of 82,906,073. The company's 50 day moving average price is $128.04 and its two-hundred day moving average price is $101.06. The firm has a market capitalization of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,497 shares of company stock worth $186,110,685 in the last three months. Company insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PLTR shares. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $89.32.

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.