Kings Path Partners LLC Acquires Shares of 1,000 Palantir Technologies Inc. (NASDAQ:PLTR)

Kings Path Partners LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds have also recently made changes to their positions in PLTR. Natixis Advisors LLC bought a new position in Palantir Technologies during the 2nd quarter worth about $274,000. Larson Financial Group LLC boosted its holdings in shares of Palantir Technologies by 24.6% in the 2nd quarter. Larson Financial Group LLC now owns 6,315 shares of the company’s stock valued at $160,000 after buying an additional 1,246 shares in the last quarter. TD Asset Management Inc grew its position in shares of Palantir Technologies by 7.1% in the 2nd quarter. TD Asset Management Inc now owns 468,890 shares of the company’s stock worth $11,877,000 after buying an additional 31,047 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Palantir Technologies by 18.4% during the 2nd quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock worth $16,720,000 after acquiring an additional 102,758 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the second quarter valued at approximately $25,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Down 4.6 %

PLTR traded down $3.69 during midday trading on Monday, hitting $76.20. 78,855,886 shares of the company were exchanged, compared to its average volume of 69,822,859. The firm has a market capitalization of $173.59 billion, a price-to-earnings ratio of 381.02, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The company’s 50 day simple moving average is $66.28 and its 200 day simple moving average is $44.38. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wedbush lifted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $42.12.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,160,723 shares of company stock worth $1,408,158,941 in the last three months. Company insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.