Kingsview Wealth Management LLC Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Kingsview Wealth Management LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,646 shares of the company's stock after purchasing an additional 4,703 shares during the quarter. Kingsview Wealth Management LLC's holdings in Palantir Technologies were worth $4,697,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 8.6% in 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 buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp increased its position in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter worth $1,360,191,000. FMR LLC increased its position in shares of Palantir Technologies by 22.6% during 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 in the last quarter. Finally, Invesco Ltd. boosted its stake in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $160.00 target price on Palantir Technologies in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $91.37.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the transaction, the insider directly owned 363,755 shares in the company, valued at $54,563,250. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 2.0%

NASDAQ PLTR opened at $153.99 on Friday. The firm has a 50-day moving average price of $133.61 and a two-hundred day moving average price of $105.61. The company has a market capitalization of $363.40 billion, a P/E ratio of 669.52, a P/E/G ratio of 12.88 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68.

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

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