Kingswood Wealth Advisors LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Kingswood Wealth Advisors LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 288.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,141 shares of the company's stock after buying an additional 113,010 shares during the quarter. Palantir Technologies makes up approximately 0.5% of Kingswood Wealth Advisors LLC's portfolio, making the stock its 26th largest holding. Kingswood Wealth Advisors LLC's holdings in Palantir Technologies were worth $12,872,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLTR. HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC acquired a new position in Palantir Technologies in the 4th quarter valued at $31,000. First Command Advisory Services Inc. purchased a new position in Palantir Technologies in the 4th quarter valued at $34,000. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 4th quarter valued at $34,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Palantir Technologies during the 4th quarter worth $35,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the transaction, the director now owns 12,562 shares of the company's stock, valued at approximately $1,624,140.98. This trade represents a 57.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the company'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 sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 1.3%

PLTR stock traded up $1.76 during mid-day trading on Wednesday, hitting $139.96. 58,100,428 shares of the company were exchanged, compared to its average volume of 80,990,429. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86. The firm has a market capitalization of $330.29 billion, a P/E ratio of 608.52, a PEG ratio of 11.93 and a beta of 2.64. The business has a fifty day simple moving average of $117.68 and a 200-day simple moving average of $95.83.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $863.89 million. During the same quarter last year, the company posted $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho upped their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Morgan Stanley lifted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus 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.