Kingsview Wealth Management LLC Raises Position in Palantir Technologies Inc. $PLTR

Key Points

• Kingsview Wealth Management boosted its Palantir stake by 24.1% in the fourth quarter, adding 15,429 shares to bring its total to 79,346 shares valued at about $14.1 million.
• Institutional interest in PLTR remains significant, with hedge funds and other institutions owning 45.65% of the stock and several smaller investors also recently increasing positions.
• Analyst sentiment has improved overall: Palantir now carries a Moderate Buy consensus, even as some price targets were trimmed; the company also just beat quarterly earnings and revenue estimates with revenue up 84.7% year over year.

Kingsview Wealth Management LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 24.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,346 shares of the company's stock after buying an additional 15,429 shares during the period. Kingsview Wealth Management LLC's holdings in Palantir Technologies were worth $14,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLTR. Bare Financial Services Inc raised its position in shares of Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after buying an additional 55 shares in the last quarter. Morton Brown Family Wealth LLC raised its position in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares in the last quarter. United Financial Planning Group LLC purchased a new stake in shares of Palantir Technologies in the third quarter worth $32,000. Clayton Financial Group LLC raised its position in shares of Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of Palantir Technologies in the third quarter worth $36,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Freedom Capital upgraded Palantir Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, February 13th. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Mizuho lowered their price objective on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 14th. Argus upgraded Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research report on Wednesday, May 6th. Finally, Loop Capital lowered their price target on Palantir Technologies from $230.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $192.76.

Palantir Technologies News Summary

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Palantir Technologies Stock Down 3.0%

NASDAQ PLTR opened at $132.51 on Thursday. The stock's 50-day simple moving average is $141.86 and its two-hundred day simple moving average is $156.37. Palantir Technologies Inc. has a twelve month low of $118.93 and a twelve month high of $207.52. The company has a market capitalization of $317.67 billion, a price-to-earnings ratio of 148.89, a PEG ratio of 2.17 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the transaction, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the transaction, the insider owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 922,524 shares of company stock valued at $125,501,302. 9.53% of the stock is currently owned by corporate insiders.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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