KPP Advisory Services LLC Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

KPP Advisory Services LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,970 shares of the company's stock, valued at approximately $251,000.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new position in Palantir Technologies during the fourth quarter worth $281,000. Sagespring Wealth Partners LLC raised its stake in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Palantir Technologies during the fourth quarter worth $52,033,000. Finally, CX Institutional acquired a new position in Palantir Technologies during the first quarter worth $62,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PLTR shares. DA Davidson increased their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. 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. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $144.25 on Friday. The firm has a market cap of $340.42 billion, a P/E ratio of 627.17, a P/E/G ratio of 12.20 and a beta of 2.64. The stock's 50-day moving average is $124.50 and its 200-day moving average is $99.02. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

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

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on 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 now directly owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is owned by insiders.

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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