Kings Path Partners LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Kings Path Partners LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,000 shares of the company’s stock, valued at approximately $76,000.

A number of other institutional investors have also recently made changes to their positions in PLTR. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now owns 592 shares in the company, valued at $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,160,723 shares of company stock worth $1,408,158,941. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLTR shares. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday. Finally, Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $42.12.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $3.69 during midday trading on Monday, reaching $76.20. 78,855,886 shares of the stock traded hands, compared to its average volume of 69,822,859. The company’s 50 day moving average is $66.28 and its 200 day moving average is $44.38. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The stock has a market capitalization of $173.59 billion, a PE ratio of 381.02, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.21 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.