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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp grew its stake in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter worth $1,360,191,000. FMR LLC grew its position in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. grew its position in Palantir Technologies by 31.2% in the 4th 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 last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PLTR. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Up 4.3%

Shares of PLTR stock opened at $136.32 on Tuesday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The company has a market capitalization of $321.70 billion, a P/E ratio of 592.70, a P/E/G ratio of 11.16 and a beta of 2.64. The firm has a 50-day moving average price of $126.15 and a 200 day moving average price of $100.23.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the firm posted $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,408,748 shares of company stock valued at $180,327,603. Insiders own 12.93% of the company's stock.

About Palantir Technologies

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.

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