Kingsman Wealth Management Inc. Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Kingsman Wealth Management Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,289 shares of the company's stock, valued at approximately $2,894,000. Palantir Technologies makes up 2.1% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds also recently bought and sold shares of PLTR. Allegiance Financial Group Advisory Services LLC increased its position in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after purchasing an additional 84 shares in the last quarter. Sovran Advisors LLC grew its stake in Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the period. Finally, Kathmere Capital Management LLC raised its holdings in Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity

In other news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Glazer sold 30,812 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the sale, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Corporate insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLTR. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. 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. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $91.37.

Palantir Technologies Stock Performance

Shares of PLTR traded down $1.73 on Monday, hitting $151.79. 44,938,659 shares of the stock traded hands, compared to its average volume of 83,272,235. The business has a 50 day simple moving average of $134.33 and a 200 day simple moving average of $106.57. The company has a market capitalization of $358.21 billion, a PE ratio of 659.96, a P/E/G ratio of 13.11 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $155.68.

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

Palantir Technologies Company 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.